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Daily Tax Report: State

California Still Honing Market-Based Sourcing Rules

Nov. 7, 2019, 11:31 PM

The California Franchise Tax Board will have at least one more round of changes to its draft market-based sourcing rules for intangibles like patents, asset management fees, and government contracts before moving to a formal regulation, a board attorney said.

The rules, which focus on where a customer receives the benefit of a service, have been in the works since 2017 and are down to a few key, “more granular” issues, Tax Counsel Amanda Smith said at the California Tax Policy Conference in San Diego Nov. 7.

  • The agency has held four discussion meetings for interested parties since...
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