The quiet revolution in U.S. subnational corporate income taxation

Describes the competitive pressures presently driving the evolution of US subnational corporate income taxation and anticipates some future changes. Reviews the history and operation of state corporate income taxes and examines the emergence of the "single-factor sales formulary apportionment". Also considers the significance of these developments for US fiscal federalism more generally, with special emphasis on the often neglected relationship between the state and federal taxation of corporations.