Tag Archives: South Carolina Supreme Court

ILN Today Post

South Carolina: State Supreme Court denies review in apportionment case

In one of this week’s articles, we described a Texas Supreme Court case in which that body determined that Graphic Packaging Corporation, a company doing business in multiple states, including Texas, could not use the Multistate Tax Compact’s three-factor apportionment formula for apportioning its business income. Instead, it was bound by the calculation contained in the Lone Star State’s franchise tax statute. The court did not identify the tax as either a franchise or income tax, though the lower court did, concluding that it was a franchise tax.

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