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NORTH TEXAS REGIONAL ADVISORY COUNCIL (NTR ACC) GENERAL MEMBERSHIP MINUTES August 4, 2011 1. Ryan Matthews called the meeting to order at 6:00 p.m. and reminded all members to sign the NT RAC signing
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NTRAC stands for Non-Resident Tax Allocation Code.
Entities that earn income in a state where they are not a resident and are required to allocate and report that income.
NTRAC can be filled out electronically or manually depending on the state requirements. It typically requires information on income earned, allocation factors, and state tax paid.
The purpose of NTRAC is to ensure that income earned by non-residents in a state is properly allocated and reported for tax purposes.
Information such as income earned in the state, allocation factors, state tax paid, and any other information required by the state tax authorities.
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