Latest on New York State Multi-State Corporation Tax Issues
There is some excellent news regarding New York State Multi-State Corporation tax. Effective 2007, taxpayers in New York will be able to compute their business allocation percentage based solely on receipts from in-state sales.
This particular corporate tax incentive was originally planned to be effective in 2008, but was moved up to 2007.
Prior to 2007, a New York State Multi-State Corporation tax return was required to allocate the business allocation percentage based on a 3-Factor allocation formula.