Suffolk County corporation has apportioned sales to NYC on it's returns. In 2015 the company sold it's customer lists, goodwill and covenant not to compete. The company has a loss from ordinary operations and a capital gain from the sale of the intangibles. Is the company required to apportion the sale of the intangibles to NYC and if so, are they required to use the same % as the apportionment factor?
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Anthony Incorvaia
Incorvaia & Associates, PC
Jericho NY
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