Archive: market based sourcing

  • Clear Filters

Market-Based Sourcing: One Size Does Not Fit All

Three more jurisdictions have added their names to the growing list of states that are implementing market-based sourcing into their income tax rules. Effective for tax years beginning on or after January 1, 2016, Connecticut, Louisiana, and Tennessee will change their method of calculating the sales factor for sales of other than tangible personal property […]
September 23, 2016

To Adopt or Not… Virginia and Market-Based Sourcing

Will Virginia Adopt Market-Based Sourcing? The Virginia Department of Taxation is currently conducting a study to determine the “desirability and feasibility” of adopting market-based sourcing.  For businesses conducting the bulk of their services in the D.C. Metro area, the adoption of such a rule by Virginia would at least spare them the headache of dealing with […]
January 27, 2016

Market-Based Sourcing: Not Just a Trend

The shift to market-based sourcing is more than just a trend in state income tax. More than 20 states have adopted this method for the sourcing of services, with a handful of others poised to follow suit. Recently, both Missouri and Tennessee adopted market-based sourcing. Further, most states with major economic hubs are now sourcing […]
June 3, 2015

New York Jumps on the Economic Nexus Bandwagon

The recently enacted budget bill in New York (S. 6359) makes numerous tax law changes, but the most significant of those changes is, without a doubt, the adoption of a bright-line economic nexus standard for its corporate income tax (i.e., Corporate Franchise Tax).  Coming in a very close second place finish in terms of significance […]
May 22, 2014