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Anyone looking at airline stocks or ETF play?
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Is this bowl still active? M looking to chat
Additional Posts in SALT - State and Local Tax
Oct. 15th is almost here. Hang in there!
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Totally fine as mentioned above. FB surely not quicker than asking your senior though? (Just curious why ask here)
Senior is Mia .
Yes. States have differing sourcing methodologies for sales of services.
Yes they have different sourcing methodologies MBS vs COP. They were asking if it needs to tie to 100%. I’m saying yes it needs to be to tie to totals on fed return to source correctly to the various states.
Yeah thats fine because states have different apportionment formulas
The total does not need to equal 100%
You need the grand total to be 100% allocated to tie back to totals on page 1. If for some reason there’s a variance source either to home state or to other. It’ll be a denominator item more than a numerator issue to affect a state %
You have to tie to 100%. It matches the page 1 of fed return.
Wow. Same scenario and my CPA went missing…Any tips for me using multi-state apportionment in SALT for a service based company?
yup!!
It won't equal 100% and that's okay.
To clarify: total sales everywhere should tie back to the Fed amount. Within or numerator will vary depending on state sourcing rule and whether this is a sale of TPP or service/intangible revenue.
Depends on your type of business and the sourcing used by your home state generally. Could be 200% could be less than 100%