On May 8, 2012, the California Court of Appeal heard an appeal involving the Franchise Tax Board's refusal to allow a taxpayer to make the election under the Multistate Tax Compact to apportion income using an equally-weighted three factor formula.
Pursuant to the California Appellate Courts Case Information website, the FTB's decision has been reversed in full.A copy of the decision is available here.
For a summary of the Gillette matter, please read our April 18, 2012 summary, available here.
