[Verse 1] When your business spans across state lines Income gets divided by design UDITPA sets the framework straight Property payroll sales allocate Three factor formula was the way But times are changing day by day [Chorus] State by state the rules divide UDITPA helps you calculate and ride Single sales is trending now Market-based is taking over somehow Combined reports for unity State income tax complexity [Verse 2] Single sales factor's gaining ground More states are coming around Where your customers receive the goods That's where income's understood Market-based sourcing leads the charge Makes your tax footprint large [Chorus] State by state the rules divide UDITPA helps you calculate and ride Single sales is trending now Market-based is taking over somehow Combined reports for unity State income tax complexity [Verse 3] Unitary business principle says If companies are connected threads Combined reporting brings them all Into one big tax protocol Water's edge or worldwide scope Gives tax planners room to cope [Bridge] Cost-of-performance used to reign Now market-based breaks the chain Pass-through entity tax is new SALT cap workaround for you Ten thousand dollar limit's tight PTE elections make it right [Verse 4] Federal conformity's the game Some states follow just the same Others decouple and go their way Bonus depreciation they might delay Rolling conformity updates fast Fixed dates make the old rules last [Chorus] State by state the rules divide UDITPA helps you calculate and ride Single sales is trending now Market-based is taking over somehow Combined reports for unity State income tax complexity [Outro] From apportionment to PTE Multistate tax complexity Learn the rules and understand State income tax across the land
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