Wednesday, June 6, 2012
VA passes single apportionment factor legislation
VA has passed legislation that requires retail companies operating in multiple states to use a single factor (sales) apportionment factor for computing the percentage of total taxable income attributable to VA. (A retail company has can NAICS code in sector 44-45.) The standard is a 3 factor uitizing sales, payroll, and assets/inventory/rental space value.This will be phased in between 2012 and 2015 in an oddball way so each year will use a different number or apportionment factors. Triple then quadruple (?) then single. Whyyyy?