Market-Based Sourcing: One Size Does Not Fit All

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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 to a market-based rule from a cost-of-performance rule. Service providers will likely bear the brunt of this change.

Of course, when it comes to implementing market-based sourcing provisions, one size does not fit all. There are many variations of how states define a service providers market …read more

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