SALT Trivia

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Thank you to everyone who participated in last week’s trivia question!

Last Week’s Question:
What was the first state to adopt a single-factor sales factor formula for apportioning an interstate corporation’s income for state income tax purposes?

The Answer:
Iowa. In Moorman Mfg. Co. v. Bair, 437 U.S. 267 (1978), the U.S. Supreme Court held…

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We will award prizes for the smartest (and fastest) participants.

Today’s Question
What was the first state to adopt a single-factor sales factor formula for apportioning an interstate corporation’s income for state income tax purposes?

E-mail your response to…

Thank you to everyone who participated in last week’s trivia question!

Last Week’s Question:
The Internal Revenue Service was created by which U.S. President?

The Answer:
In July 1862, President Abraham Lincoln and Congress passed the Revenue Act of 1862, creating the office of Commissioner of Internal Revenue and enacting a temporary income tax to…

Thank you to everyone who participated in last week’s trivia question!

Last Week’s Question:
Which two states refer to their state taxing agency as “the Comptroller?”

The Answer:
Maryland and Texas. Most taxes in Maryland and Texas are administered by, respectively, the Maryland Comptroller of the Treasury and the Comptroller of Public Accounts of the…

Last week we launched SALT Trivia to test your knowledge on state and local taxes. Thank you to everyone who participated!

Last Week’s Question:
Which state was the first to enact a general state sales tax?

The Answer:
Mississippi. Although a few states had some sales tax features prior to that date, Mississippi was the…