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What is business income?

Answer #528 -- ( Published 03/20/2006 04:16 PM | Updated 07/12/2017 10:38 AM )

What is business income?

Business income means all income (other than compensation) that may be apportioned by formula among the states in which you are doing business without violating the Constitution of the United States. All income of a corporation is business income unless it is clearly attributable to only one state and is earned or received through activities totally unrelated to any business you are conducting in more than one state. Business income is net of all deductions attributable to that income.

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