2) States tax multi-state corporations by first allocating or apportioning a portion of the corporation's profit as "in-state". Historically, states have used the following formula: Apportionment % - property in - state payroll in - state sales in - state total property total payroll total sales Over the past few decades, though, states have put increasing weight on the sales component and lowered the weight on property and payroll. Figure 1 Number of States That Have Adopted an Increased Weighting on 35 Sales Factor 30 25 20 LS +monier of stake who have adopted LO 5 78 79 90 81 87 80 04 85 05 57 80 53 90 91 92 91 91 95 95 97 93 59 Write a short explanation of this phenomenon, referencing concepts and material we've seen in class