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The California Franchise Tax Board (FTB) held an Interested Parties Meeting (IPM) on June 4, to discuss proposed amendments to the market-based sourcing rules under California Code of Regulations, title 18 (CCR), section 25136-2. Five previous IPMs for the market-based sourcing rules were held over 2017 – 2020. Few comments were made at the June 4 meeting.

The new proposed amendments retain most of the changes in previous drafts of the regulation, but make new changes related to “professional services” providers, and change the applicability date of the amendments to tax years beginning on or after January 1, 2023.