Apportionment Of Income Of Enterprise Data Centers

The bill allows a taxpayer that makes a capital investment in an enterprise data center operation in the state of a specified dollar amount within a consecutive 5-year period to enter into a memorandum of understanding with the office of economic development to transition to a different apportionment method for apportioning the income of the taxpayer. The memorandum of understanding must describe the amount of the capital investment and any other investments or actions on the part of the taxpayer that will support the economic development of the state. The bill specifies that a transition schedule must be included in the memorandum of understanding.

(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)