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Dec 8, 2010 · Although you may find this revelation shocking, the simple fact is that all states are unitary states. In other words, all states must abide by the unitary business principle in administering their corporate income tax regimes.
Combined reporting is a state income tax filing/apportionment methodology whereby a taxpayer’s state tax liability is determined by including the income and factors of the entire unitary business.
Apr 8, 2010 · Unitary combined reporting, income apportionment, and State tax jurisdiction can present surprising consequences for foreign corporations. As illustrated by Wisconsin, State unitary tax regimes can also produce constitutionally suspect results.
Sep 26, 2017 · The unitary state income tax is a means by which certain states regulate the collection of income in the form of taxes from companies that do interstate commerce or file consolidated tax returns.
A unitary tax is a type of tax imposed by the government on businesses that operate in multiple states or countries. It is based on the idea that a business should be taxed as a single entity, rather than as separate entities in each location where it operates.
This income falls into two classifications: (1) income that is derived from a discrete line of business and (2) intangible income such as interest, dividends, and capital gains. The current situation presents both conceptual and admin-istrative difficulties for a so-called franchise tax.
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Mar 1, 2001 · Results of a model firm simulation, examining various combinations of state tax rates and unitary vs. nonunitary tax structures, found that the firm would make interstate resource changes to minimize company‐wide state income taxes.
