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Connecticut publishes guidance regarding single-sales factor apportionment and market-based sourcing

On April 17, the Connecticut Department of Revenue Services issued Special Notice 2017(1) addressing apportionment changes included in the recently adopted single-sales factor apportionment and market-based sourcing legislation. The Special Notice includes clarifying language and provides taxpayers with detailed guidance regarding how to apply the statutes, including several interpretive examples. The legislative changes addressed and interpreted in the Special Notice apply to tax years beginning on or after Jan. 1, 2016, for Connecticut Corporation Business Tax filers and tax years beginning on or after Jan. 1, 2017, for Connecticut Income Tax (including pass-through) filers.