California releases proposed revisions to market sourcing rules
July 2019
Overview
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.
The takeaway
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.
Related content
Contact us
Follow us
