Massachusetts Enacts Single-Sales Apportionment Among Other Tax Provisions
Withum
OCTOBER 9, 2023
Historically, most businesses in Massachusetts apportioned income using a three-factor apportionment formula comprising of property, payroll, and double-weighted sales. Also, the legislation closed a loophole for individuals subject to the millionaire’s tax, which imposed a 4% surtax for income over $1M.
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