<p>Texas Court of Appeals Denies Graphic Packaging's Attempt to Use MTC Apportionment Formula</p>

Texas Court of Appeals Denies Graphic Packaging's Attempt to Use MTC Apportionment Formula

The Texas Court of Appeals, Third District, determined that the state's franchise tax is not an income tax and therefore a taxpayer may not use the Multistate Tax Compact's three-factor apportionment formula to determine its franchise tax liability, but must use the single-factor formula provided in the state's tax code.

District Court opinion <a href="/lr/resolve//1ncn"> <img src="//s3.amazonaws.com/binary.taxnotes.com/image/etl/doclink.gif" border="0" alt="2014 STT 13-44: State Court Opinions"/></a>.