Search results
Results from the WOW.Com Content Network
The adoption of formulary apportionment has been advocated at various times since the 1970s. The matter has been hotly debated by OECD member states beginning in the 1970s. [7] In 2000, there was a proposal to use formulary apportionment within the European Union. [8]
A formulary is a list of pharmaceutical drugs, often decided upon by a group of people, for various reasons such as insurance coverage or use at a medical facility. [1] Traditionally, a formulary contained a collection of formulas for the compounding and testing of medication (a resource closer to what would be referred to as a pharmacopoeia ...
Such residents are allowed a credit for taxes paid to other states. Most states tax income of nonresidents earned within the state. Such income includes wages for services within the state as well as income from a business with operations in the state. Where income is from multiple sources, formulary apportionment may be required for nonresidents.
The Apportionment Act 1870 (33 & 34 Vict. c. 35) extends to payments not made under any instrument in writing (section 2), but not to annual sums made payable in policies of insurance (section 6). Apportionment under the act can be excluded by express stipulation. [2] The apportionment created by this statute is "apportionment in respect of time."
The most common federal taxable income is based on apportionment formulae. State and municipal taxes are deductible expenses for federal income tax purposes. [12] Most states tax domestic and foreign corporations on taxable income derived from business activities apportioned to the state on a formulary basis. Many states apply a "throw back ...
Uniform Apportionment of Tort Responsibility Act, a Uniform Act drafted by the National Conference of Commissioners on Uniform State Laws (NCCUSL) Formulary apportionment, a method of allocating corporate taxation between jurisdictions
Under US rules, apportionment of most deductions may be done based on relative sales, gross income (sales less cost of goods sold), space used, headcount, or some other rational and systematic basis. [49] The US has rules requiring that certain deductions be apportioned among all income on a formulary basis. These rules are quite complex.
Pages for logged out editors learn more. Contributions; Talk; Unitary taxation