Question: Lanco - a case we discussed in class - is a Delaware case dealing with the state tax consequences of intangible income and deductions for

Lanco - a case we discussed in class - is a Delaware case dealing with the state tax consequences of intangible income and deductions for royalty payments in and among a related party group of taxpayers.

True

False

True or False. When used in the state tax context, the term allocation generally refers to the assignment of an entitys business income to a particular state.

True

False

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