Which of the following statements most accurately describes the concept of apportionment for purposes of state and local taxation? Multiple Choice Apportionment is the ability of a jurisdiction to impose higher taxes on entities formed in another jurisdiction. Apportionment is the division of business income earned by an entity to avoid the taxation of the same income by multiple jurisdictions. Apportionment is the ability of a jurisdiction to tax income earned in another jurisdiction. Apportionment is the allocation of income earned by an entity to the taxing jurisdiction within which the entity was formed