Moving from a three-factor apportionment formula consisting of property, payroll and double-weighted sales to a single-sales factor formula, effective for tax years beginning on or after January 1, 2022;
Eliminating the sales factor “throw-out” rule for certain sales of tangible personal property made on or after January 1, 2022; and
Adopting market-based sourcing for certain receipts derived from services and intangible property on sales made on or after January 1, 2022, in place of its “costs of performance” sourcing methodology.
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