The deductibility of the MSBT varies significantly among states.
In 1990, the California Franchise Tax Board (FTB) took the position that, to the extent the MSBT is measured by income, it is not deductible and, to the extent the tax is based on labor cost of goods sold, it is deductible (FTB Notice No.
In response to Dayton Hudson, the FTB modified its MSBT position to provide that the MSBT was deductible for California corporate tax purposes (i.e., an add-back modification was not required), if the taxpayer has incurred and deducted labor costs of goods sold in the year in which the tax is paid or accrued.
However, the California SBE rejected the FTB's modified MSBT position.
Dep't of State Rev., 49T 10-9712-TA00197, held that the MSBT is not an add-back for purposes of Indiana's financial institutions tax.
94-313, 10/17/94), the Virginia Tax Commissioner found that the MSBT was not a tax based on, measured by or computed with reference to net income.
Georgia, Kansas and Maine: Several states, including Georgia, Kansas and Maine, recently informally announced that the MSBT is deductible for state tax purposes to the same extent it is deductible for Federal income tax purposes.
North Dakota: The North Dakota State Tax Department's stated position is that the MSBT is deductible for North Dakota corporate income tax purposes only to the extent that it is not based on income.
South Dakota: South Dakota has informally indicated that the MSBT is an income tax; therefore, the entire amount of the MSBT deducted on the Federal return constitutes an addback in computing South Dakota bank excise income) tax.
Virginia: In a 1994 ruling, the Virginia Tax Commissioner found that the MSBT is not a tax based on, measured by or computed with reference to, net income.
West Virginia: The West Virginia Department of Revenue's stated position is that the MSBT is deductible only to the extent the taxes paid were calculated using the alternative gross method.
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z, "The community shall appoint a custodian in charge of this stele." On the translation of KAI 60.5-6, see C.