California – Mandatory Single Sales Factor Apportionment Formula Bill Fails to Pass

SALT Report 1694 – The California Legislature failed to pass a bill that would have required multistate taxpayers to adopt a single sales factor formula to apportion their business income when determining their corporation franchise and income tax liabilities.  Further, the bill would have mandated the use of market-based sourcing rules for sales of other than tangible personal property for all taxpayers.

As previously reported in SALT Report 1683 the bill had been approved by the California General Assembly but was later rejected by the Senate on the last day of the legislative session.

For Further Information:

California State Legislature – AB 1500 Complete History

California State Legislature – AB 1500