Words / F / Law

formulary apportionment

noun

C2CEFR level
96/100Rarity: very rare
TechnicalRegister

The allocation of a multi-jurisdictional group's taxable profit by formula rather than by separate-entity accounting.

The states carve up the group's income by formulary apportionment using payroll, property, and sales.

Similar: unitary apportionment

Topic: Tax law in Legal English

Rarity runs from 0 (a word everyone knows) to 100 (almost never seen outside specialist or literary writing). Level is the word's real difficulty on the CEFR scale, from A1 to C2.

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More law words: Tax law