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Montana enacts legislation adopting market-based sourcing

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On May 3, 2017, Montana enacted legislation revising its Multistate Tax Compact (Compact) provisions, as recommended by the Multistate Tax Commission (MTC), to adopt market-based sourcing for sales other than sales of tangible property, change definitional terms for “business income” and “sales,” and expand alternative apportionment provisions. The legislation takes effect January 1, 2018 and applies to tax years beginning after December 31, 2017.