Specifying allocation, apportionment and treatment of income of flow-through entities
Modifies provisions relating to the apportionment of income for financial institutions
To Amend And Modernize The Law Concerning The Apportionment Of Income Derived From Multistate Operations; And To Change The Method For Sourcing Of Receipts For Services And Intangibles.
Apportion Taxable Income;digital Business
Revise corporate income tax apportionment
Apportion Taxable Income;digital Business
INC TX-PASS THROUGH ENTITIES
Providing for the apportionment of business income by the single sales factor and the apportionment of financial institution income by the receipts factor, deductions from income when using the single sales factor and receipts factor, the decrease in corporate income tax rates determining when sales other than tangible personal property are made in the state and excluding sales of a unitary business group of electric and natural gas public utilities.