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Formulary apportionment leads to double taxation of the same profits unless there is agreement among all the jurisdictions on the formula to be used and the composition of the combined group. Tax could be avoided by manipulation of the components of the formula like the location of mobile assets.
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 ...
A frequently-proposed [107] [108] alternative to arm's-length principle-based transfer pricing rules is formulary apportionment, under which corporate profits are allocated according to objective metrics of activity such as sales, employees, or fixed assets. Some countries (including Canada and the United States) allocate taxing rights among ...
Assessed value: The value of real estate property as determined by an assessor, typically from the county. "As-is": A contract or listing clause stating that the seller will not repair or correct ...
A broker price opinion (BPO) is a real estate professional’s dollar estimate of a property’s worth. It is an opinion, but one often backed up by the selling prices of comparable homes in ...
The apportionment created by this statute is "apportionment in respect of time." The cases to which it applies are mainly cases of either: apportionment of rent due under leases where at a time between the dates fixed for payment the lessor or lessee dies, or some other alteration in the position of parties occurs; or
Apportionment is a legal term for distribution or allotment in proper shares. Apportionment may also refer to: Biology ... Formulary apportionment, ...
Billionaire entrepreneur and top adviser to President-elect Donald Trump, Elon Musk, touted that he has reaped the benefits of a controversial class of weight-loss drugs, after fellow top Trump ...