Author: Adam Heinlein, CPA | Tax Supervisor
There was once a time when businesses primarily provided tangible goods for local customers or services for customers in the same state. With the advancement of the internet and an increased reliance upon technology, this is no longer the case. As the business world continues to evolve, state taxing authorities are struggling to keep up with this changing environment in a cohesive manner. There have been changes in sales taxes as well as income taxes – specifically for income taxes, states are trying to capture as much income in their state as possible. One method that is gaining momentum is moving from a cost-of-performance apportionment methodology to a market-based one. Read more.
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