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Business Definition for: apportion, apportionment
apportion, apportionment
- prorate of property expenses, such as taxes and insurance, between buyer and seller.
- partitioning of property into individual parcels by tenants in common.
- Tax (federal): the IRS can reallocate or reapportion items of income or expense between related taxpayers if the allocation made by the taxpayers was for the purpose of avoiding tax or inaccurately reflects taxable income.
- Tax (state):many states require multistate taxpayers to compute the income taxable to that state by one of two methods:
- direct allocation-income and expense items for a particular state must be specifically reported.
- apportionment-federal income is apportioned between states using any or all of the following factors:
- sales revenue
- payroll expense
- property basis
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