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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)




Journal of Taxation and Regulation of Financial Institutions

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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.

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