Reg. IV.10.(c) - Property Factor: Consistency and Uniformity in Reporting

(1) Year-to-Year consistency. In filing returns with this state, if the taxpayer departs from or modifies the manner of valuing property, or of excluding or including property in the property factor, used in returns for prior years, the taxpayer shall disclose in the return for the current year the nature and extent of the modification.

(2) State-to-State uniformity. If the returns or reports filed by the taxpayer with all states to which the taxpayer reports under Article IV of this Compact or the Uniform Division of Income for Tax Purposes Act are not uniform in the valuation of property and in the exclusion or inclusion of property in the property factor, the taxpayer shall disclose in its return to this state the nature and extent of the variance.

Notes

Reg. IV.10.(c)

45 CR 01, January 10, 2022, effective 1/30/2022