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Expert Analysis

The Fate Of The Multistate Tax Compact Election

Law360, New York ( January 27, 2016, 5:45 PM EST) -- The California Franchise Tax Board (FTB) anticipated this problem nearly 25 years ago. Leading up to the 1993 amendment to California Revenue and Taxation Code (CRTC) Section 25128, FTB attorneys, including the co-author of this article, understood that changing the state's statutory formula for the apportionment of multistate business income to a double-weighted sales factor raised the spectre of a legal challenge in light of California's prior codification of the Uniform Division of Income for Tax Purposes Act (UDITPA) in 1966 and its ratification of the Multistate Tax Compact (Compact) in 1974, which provided for an equally weighted, three-factor formula....

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