Finally, after much anticipation, tax reform has become a reality this year in several high-profile jurisdictions, including New York, the District of Columbia and Rhode Island. The significant changes implemented by these “blue states” include modifications which follow the general trend toward single sales factor apportionment and market-based sourcing for sales of other than tangible personal property. New York is the prime example of a state enacting major tax-reform legislation, but other states enacted or evaluated significant tax reform during 2014, and other states are certain to consider tax reform measures during 2015.
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