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Before a state is permitted to tax a business, which of the following is required? The business must have: Substantial nexus with the taxing state.

Before a state is permitted to tax a business, which of the following is required? The business must have:

Substantial nexus with the taxing state.

Commercial domicile in the taxing state.

One or more owners who are residents of the taxing state.

Nontangible assets held by a bank or securities institution in the taxing state.

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