Throughout the week, we highlight selected developments involving state tax legislative, judicial, and administrative matters. The alerts provide a brief summary of specific multistate developments relevant to taxpayers, tax professionals, and other interested persons. Read the recent alerts below or visit the archive.
West Virginia adopts single factor sales and market sourcing apportionment On April 9, 2021, West Virginia Governor Jim Justice signed into law House Bill 2026, which includes moving the State to a single sales factor apportionment regime with market-based sourcing for sales other than sales of tangible personal property. The single sales factor apportionment is effective for tax years beginning on or after January 1, 2022. The market-based sourcing methodology is effective for sales made on or after January 1, 2022.
This Multistate Tax Alert discusses the newly enacted legislation in more detail, including related taxpayer considerations. [Issued: April 14, 2021] More
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