The California Franchise Tax Board (FTB) held an Interested Parties Meeting (IPM) to discuss proposed amendments to the market-based sourcing rules under California Code of Regulations, title 18 (CCR), section 25136-2.
Written comments related to the draft language may be submitted by September 19, 2019. The FTB gives serious consideration to comments from the business community, and many of the current rules are a result of such feedback. Taxpayers are encouraged to review the proposed amendments and consider becoming involved in the process if the proposed changes would be detrimental. The FTB left open the possibility that it would hold another IPM depending on the materiality of changes to the proposed amendments.