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Seller $309 Million Stock Gain May Be Nonbusiness Income and Escape CA Franchise Tax

July 8, 2020 Introduction One tax risk of a multistate corporate business selling the stock of a subsidiary is exposing the gain to many states with different rules and tax rates. The deal The seller here provides credit and debit

Posted in nonbusiness income/sale of subsidiary, state franchise/income tax, unitary business Tagged with: ,

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