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September 15, 2014 • < 1 min read
The Multistate Tax Commission (MTC) recently amended Article VI (UDIPTA) of the Multistate Tax Compact as follows:
The most significant amendment was the adoption of market-based sourcing for services and intangibles. Market-based sourcing is intended to measure a taxpayer’s access to the particular state’s market. Ohio has already adopted market-based sourcing in 2005 through the enactment of the Commercial Activity Tax (CAT) and for Ohio personal income tax purposes, which applies to business income generated by pass-through entities. See R.C. 5751.033 and R.C. 5733.05(B)(2)(c)(ii).
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