Addressing the Impact of Trend in States to Source Financial Services Fee Income by Using Market-Based Approach
Author: Chuck Jones.; Steve Ryan.; Giles Sutton.; William A. Luna III.; Paul Bogdanski.
Source: Volume 23, Number 02, November/December 2009 , pp.29-38(10)
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Abstract:
As changes in banking law have allowed financial organizations to expand to multiple states, the issue of sourcing service revenue has become ever more important. There is a general trend away from the cost-of-performance approach toward market-based apportionment of financial institutions’ revenue. This trend raises a number of practical issues, which this article examines in detail.Keywords: Multi-state Tax Commission; MTC; Sales-factor income sourcing; taxing fee income
Affiliations:
1: Grant Thornton LLP; 2: Grant Thornton LLP; 3: Grant Thornton LLP; 4: Grant Thornton LLP; 5: Grant Thornton LLP.