MO nonresident business income
Posted: 3-Apr-2022 2:03pmClient earned $15,000 teaching, reported on his Sch C. $5,000 of that was earned in MO. Net income is $9,000. Am I correct that the MO sourced income is $3,000? ($5000 / $15000 x $9000).
There are no form instructions for Form MO-NRI, Part B.
I found discussion that MO moved to single sales factor, market based sourcing in 2020, but the discussion was specific to corporations, and I need to make sure the same applies to individuals - or figure out what else I'm supposed to do.
Thank you!
There are no form instructions for Form MO-NRI, Part B.
I found discussion that MO moved to single sales factor, market based sourcing in 2020, but the discussion was specific to corporations, and I need to make sure the same applies to individuals - or figure out what else I'm supposed to do.
Thank you!