Question

A state that is in accord with today's IRC with no state legislative action required has...

A state that is in accord with today's IRC with no state legislative action required has a __________ IRC conformity date.

Current.

Fixed date; rolling.

Fixed date; nonconforming.

Rolling current.

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Answer #1
  • A state that is in accord with today's IRC with no state legislative action required has a ROLLING CURRENT IRC conformity date.

Under rolling current conformity, the states conform to the IRC as and when the federal tax code changes needless of any activity done by state legislative.

On the other hand, under fixed or static conformity date, state legislative action is required to incorporate with IRC on any fixed date rather than on the same date on which changes made.

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