Amend Corporate Apportionment - A Step In The Right Direction?

Today the Revenue Laws Study Committee is considering a bill draft for introduction in the 2014 Legislative Session that would change the way North Carolina determines tax liability for multistate corporations with a North Carolina nexus.

When determining state tax liability, multistate corporations consider what percentage of the corporation's sales are in a state; what percentage of a corporation's workforce is in a state; and what percentage of a corporation's property is in a state.  Under current law the sales factor is doubled-weighted in North Carolina.  The proposed bill would increase that to a four-times-weighted sales factor.
 

 

Topics:  Corporate Taxes, Legislative Committees, Multistate Corporations

Published In: General Business Updates, Elections & Politics Updates, Tax Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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