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   What is unitary state income tax?

   • 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. While the regulation and requirements vary greatly among states, some generalities may be used to explain the concept.

   What Is Unitary State Income Tax? | Bizfluent

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   What is unitary combined reporting?

   • Under the unitary combined reporting methodology, an entity that does not otherwise have nexus with a particular state may nonetheless be required to be included within a particular state’s combined reporting group.

   Foreign Affiliates and Combined Reporting | Alvarez & Marsal

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   Are taxpayers part of a unitary business?

   • If the taxpayers meet either the “Interdependence of Functions Test” or the “Unity of Operations and Use Test,” the taxpayers are part of the unitary business. A determination of whether an entity forms part of a unitary business with another is determined based on the facts and circumstances of each case. Same Line of Business.

   The Unitary Business Principle and Combined Returns

   www.nj.gov/treasury/taxation/pdf/pubs/tb/tb93.pdf

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   Why do corporations have multiple unitary tax returns?

   • This allows the corporations to break related operations into multiple unitary tax returns. One advantage of this method is management can better manage the appropriation of their tax dollars and to assure income is taken only by the states associated with the sale of the products and services.

   What Is Unitary State Income Tax? | Bizfluent

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2. www.marcumllp.com › insights › state-corporateState Corporate Income Taxation: Trends in Combined Reporting

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   Nov 29, 2022 · A majority of states that impose a corporate income tax have adopted the use of mandatory worldwide, or water’s-edge, combined reporting methods for unitary businesses. At the same time, historically separate-filing states are seeking to adopt combined reporting tax regimes for corporate taxpayers.

3. pro.bloombergtax.com › portfolio › income-taxesIncome Taxes: Consolidated Returns and Combined Reporting ...

   pro.bloombergtax.com › portfolio › income-taxes

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   At the state level, members of a multi-corporate group may, depending on the circumstances and the laws of the particular state, determine their state taxable income using the separate return, combined report, or consolidated return methods.

4. bizfluent.com › info-8436477-unitary-state-incomeWhat Is Unitary State Income Tax? | Bizfluent

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   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.

5. www.thetaxadviser.com › issues › 2010The Recent Growth of Mandatory Unitary Combined Reporting

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   The use of mandatory unitary combined reporting has become increasingly popular among states in recent years, driven by state budgetary shortfalls and the perceived distortion of taxable income by multistate corporations filing separate company reports.

6. www.reddit.com › r › AccountingCombined vs consolidated reporting for states. What's the ...

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   Combined reporting: a method of reporting/filing returns where all affiliates engaged in a unitary business must include their income, expenses, apportionment, etc. on a single report to calculate the group's tax liability. Consolidated return: a return where the parent corporation of an affiliated group includes the above items for itself and ...

7. www.nj.gov › treasury › taxationThe Unitary Business Principle and Combined Returns

   www.nj.gov › treasury › taxation

   A business conducted directly or indirectly by one corporation is unitary with that portion of a business conducted by another corporation through its direct or indirect interest in a partnership.

8. www.alvarezandmarsal.com › insights › foreignForeign Affiliates and Combined Reporting | Alvarez & Marsal ...

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   Nov 11, 2010 · Two tax concepts that states may employ to increase their tax revenue and that trap unwary foreign entities are (1) unitary combined reporting and (2) economic nexus. Unitary combined reporting is a methodology for apportioning the business income of a corporation that is a member of a unitary business group.