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. Here is the proposed market sourcing regulation.
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.