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Single sales and three factor methods on California corporate returns
Most corporations must use the single sales factor method. The three factor method is only allowed and required for certain corporations under R&TC 25128.7. Per the Schedule R instructions, item G:
The following activities are "qualified business activities" and an apportioning trade or business that is predominantly engaged in these activities must apportion income using the three-factor method.
- Extractive or agricultural business activities are qualified business activities for all taxable years beginning on or after January 1, 1993. Extractive business activities are activities relating to the production, refining, or processing of oil, natural gas, or mineral ore. Agricultural business activities means activities relating to any stock, dairy, poultry, fruit, furbearing animal, truck farm, plantation, ranch, nursery, or range. Other activities may qualify. See R&TC Section 25128(d) (2) and Cal. Code Regs., tit.18 sections 25128, 25128-1, and 25128-2 for more information.
- Savings and loan activities are qualified business activities for taxable years beginning on or after January 1, 1994. A savings and loan activity means any activity performed by savings and loan associations or savings banks which have been chartered by federal or state law.
- Banking or financial business activities are qualified business activities for taxable years beginning on or after January 1, 1996. A banking or financial business activity means activities attributable to dealings in money or moneyed capital in substantial competition with the business of national banks.