This afternoon, the Massachusetts Department of Revenue released its Proposed Regulation 830 CMR 63.38.1: Apportionment of Income, to implement the market-based sourcing rules which took effect for tax years beginning after January 1, 2014. The Proposed Regulation can be found here.
The Proposed Regulation follows a Working Draft of the same regulation which was released by the Department on March 25, 2014. For a redline of the changes made from the Working Draft to the Proposed Regulation click the following link: Redline of Proposed Market Sourcing regulations.
Reed Smith will provide additional analysis and insight on the Proposed Regulation in the coming days. Check back here regularly for updates.
This article is presented for informational purposes only and is not intended to constitute legal advice.
