- North Carolina requires a contract manufacturer to source its service revenue from a related entity in the same way that the related entity sources its revenue from the sales of manufactured goods.
- Sourcing rules for transactions with related parties may deviate from rules for transactions with unrelated third parties in some states.
- Businesses may need to engage in more due diligence to comply with these sourcing rules.
- Aprio’s State and Local Tax (SALT) team can help analyze state sourcing rules and determine how they apply to operations.
Source: aprio.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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