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For tax years beginning on or after January 1, 2011, an irrevocable annual election is available for corporate taxpayers to apportion business income to California by using a single sales factor. On this podcast edition, Carley Roberts of Morrison & Foerster, LLP discusses application of the election and its interaction with market-state sourcing and the new cost-of-performance sourcing standard. Ms. Roberts examines efforts undertaken by the California Franchise Tax Board to implement the market state and cost of performance apportionment standards, and comments on the impact of the single-sales-factor election on California's fiscal condition. Copyright© 2011 LexisNexis, a division of Reed Elsevier Inc. Visit www.lexisnexis.com/community/taxlaw.
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View Ms. Roberts' narrative on this site on California's Current Sales Factor Landscape
RELATED LINKS: For further discussion, see:
Bender's State Taxation: Principles and Practice § 3.11
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