Question
Which of the following statements most accurately describes the concept of apportionment for purposes of state taxation? A. The allocation of business income earned by
Which of the following statements most accurately describes the concept of apportionment for purposes of state taxation?
A. The allocation of business income earned by an entity in several states to the state with the lowest tax rates.
B. The ability of a state to tax an entity's income if the entity is doing business in that state.
C. The division of business income earned by an entity among several states to avoid the taxation of the same income by multiple states.
D. The ability of a state to impose higher taxes on entities formed in another state
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