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SPRING 2020 DATA SUMMITAPRIL 28, 2020 MAY 1, 2020, WASHINGTON, D.C.SPONSORSHIP OPPORTUNITIES WWW.PESC.ORG M U L T I P L E S T A K E H O L D E R S. O N E V I SI O N.#PESCSPRING20SUMMITG R E E T I N
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MULT stands for Multi-State Unitary Tax, which is a tax used to allocate income among states for businesses that operate in multiple jurisdictions.
Businesses that operate in multiple states and meet certain thresholds are required to file MULT, particularly if they are classified as a unitary group.
To fill out MULT, organizations must complete the required forms, provide detailed income and allocation data, and follow the specific instructions provided by the state taxing authorities.
The purpose of MULT is to ensure fair taxation of businesses that operate across state lines by allocating income correctly among the states in which they conduct business.
Reporting on MULT typically includes total income, apportionment factors, deductions, and specific details about the business operations in multiple states.
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