multi-state tax Tag

The California Court of Appeal held on July 24, 2012 that California may not eliminate multistate taxpayers’ use of an equal-weighted apportionment formula for calculating income tax liability. Other jurisdictions may agree. However, on August 9, 2012 the California Court of Appeal stated that it...

Summary:California has overcharged multistate businesses on income tax bills for years, the California Court of Appeal, Fourth District, held on July 24, 2012. Multistate businesses that have paid California income taxes between tax years 2007 and today should contact Royse Law Firm, PC, to...

Internal Revenue Code (I.R.C.) Section 7874 regulates corporate and partnership inversions. An “inversion” occurs when an entity elevates a subsidiary in a low-tax jurisdiction (e.g., Bermuda) to a parent position, inverting the previous affiliation and becoming a subsidiary of the foreign-headquartered entity. By relocating one’s...

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