Multi State Income and Franchise Insights
Politics and Congressional Activity Congress returned on June 3rd from a Memorial Day recess to face a number of pressing issues. Negotiations on budget and spending legislation are in the hands of House Speaker Pelosi (D-CA) and Senate Majority Leader McConnell (R-KY) with a goal of reaching agreement in time to prevent the need to pass a continuing resolution prior to the start of the fiscal year on October 1st. […]
Over the last few years, a transformation has been taking place in state and local income taxes—the shift to market-based sourcing for services income. Today, more than half of the states have adopted market-based sourcing. The result is more complexity and uncertainty for private equity firms. Cost of performance vs. market-based sourcing Historically, most states used the cost of performance (COP) method for apportioning service revenue to a particular state. […]
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