California reminds us that occasional sale exclusions don’t exist only in the sales tax world! Chief Counsel Ruling 2015-01 discusses how Cal. Code Regs. 25137(c)(1)(A) can work to exclude certain substantial and occasional receipts from the sales factor for corporate franchise tax purposes. Having a good understanding of how a significant sale of assets can impact the state apportionment formula is critical, especially when numerous jurisdictions are concerned. Learn more.