Senate Bill 568 Summary

• Eliminates the "throwback rule" for foreign exports by excluding sales to purchasers outside the United States from Indiana's sales factor apportionment calculation when the taxpayer is not subject to tax in the purchaser's jurisdiction.

• Modifies IC 6-3-2-2 to treat sales of tangible personal property shipped outside the United States as "not in this state" for income apportionment purposes, effective January 1, 2014.

• Applies only to taxable years beginning after December 31, 2013, with the statutory change expiring January 1, 2016.

• Maintains existing rules for sales within Indiana and to the U.S. government, and for situations where the taxpayer is taxable in the purchaser's state.