{"version":1,"type":"rich","provider_name":"Libsyn","provider_url":"https:\/\/www.libsyn.com","height":90,"width":600,"title":"Curly fries and conjunctive tests: Business income, explained","description":" In this episode of the SALT Shaker Podcast, Partners Jeremy Gove and Chelsea Marmor break down the business versus non-business income divide. They also explore how the Multistate Tax Commission\u2019s recommended shift in terminology \u2013 from business\/non-business income to apportionable\/non-apportionable income \u2013 refocuses the analysis on whether income is constitutionally apportionable. Chelsea and Jeremy then walk through the two key tests used in determining business income: the transactional test and the functional test, and how these tests often overlap.  Their discussion centers on the Arkansas Supreme Court\u2019s recent decision in Hudson v. US Beef, involving the sale of franchise operations. The court found the gains from the sale were non-business income under the three requirements in Arkansas\u2019 business income definition. Chelsea and Jeremy also unpack the dissent, which argued the majority improperly blended the functional and transactional tests, underscoring how fact-specific \u2013 and potentially blurred \u2013 this analysis can be. The episode concludes with key takeaways on applying these tests across jurisdictions, along with an overrated\/underrated debate on summer staples. For questions or comments, email SALTonline@eversheds-sutherland.com. Subscribe to receive regular updates hosted on the SALT Shaker blog. ","author_name":"The SALT Shaker Podcast","author_url":"https:\/\/www.stateandlocaltax.com","html":"