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.
The amended rules took effect on July 1, 2022. Please contact us with any questions.
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