Overview
Peter Faber said more clarity is needed from New York State tax authorities on how they plan to depart from the statutory apportionment formula because that formula isn’t designed to accurately measure income. “The real question in my mind is, how do you apply this discretionary power to depart from the statutory formula when the legislature has made a policy judgment that income is to be allocated based on where your customers are … and not where you earn your income,” Mr. Faber said.