Business income is allocated to the state of commercial domicile.
Business income is apportioned based on the extent of business's activity and property in various states.

Question

Quizplus · Accepted Answer

Business income is apportioned based on the business's activity and property in various states, not just its state of commercial domicile. This is known as apportionment, which takes into account factors such as sales, payroll, and property in each state in order to determine how much income is attributable to each state.

Business Income Is Allocated to the State of Commercial Domicile