F&E Apportionment-7 - Property Factor when a Complete Liquidation Occurs in a Single Day

The property factor of the apportionment ratio includes the average of the tax-basis cost of tangible property at the beginning of the tax period and the tax-basis cost of tangible property at the end of the tax period.  The values at the end of the period are the cost values immediately before the liquidation.  They should not be zero. 

Reference: Tenn. Code Ann. § 67-4-2115(b).

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