Which of the following isn't a requirement of Public Law 86-272?
A)The tax is based on net income.
B)The taxpayer sells only tangible personal property.
C)The taxpayer is an intrastate business.
D)The taxpayer is nondomiciliary.

Question

Quizplus · Accepted Answer

Public Law 86-272 protects businesses from state income taxes if their activities in the state are limited to soliciting orders for sales of tangible personal property, which are sent outside the state for approval and fulfillment. It does not require the taxpayer to be an intrastate business; rather, it applies to interstate businesses.

Which of the Following Isn't a Requirement of Public Law