Tax
May 10, 2014
VIDEO: State tax formula in limbo at high court
A wide range of multistate businesses will be affected by the decision, which may have a big impact on how much of their income can be taxed by California. By Troy Van Dongen and Charles Olson
The state Supreme Court soon will hear oral arguments in one of the most important state income tax cases in recent years, Gillette v. Franchise Tax Bd., S206587. A wide range of multistate businesses will be affected by the decision, which may have a big impact on how much of their income can be taxed by California.
The core issue concerns "apportionment" - i.e., the portion of an interstate busine...
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