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Mar 1, 2001 · In contrast, changes in unitary state tax rates can result in significant resource changes in both the unitary state and in other states. The finding that tax rate cuts are ineffective in nonunitary states implies that these states may be more successful in attracting investment by changes affecting apportionment factors (tax credits for new ...
The definition of a unitary business has figured prominently in several recent decisions of the U.S. Supreme Court on the constitutionality of state corporate income taxes. This paper employs economic analysis to frame a three part test of whether a unitary business exists. Underlying the tests is ...
Apr 17, 2009 · According to the Wisconsin Legislative Fiscal Bureau, combined reporting, along with sourcing, tax administration, and related party transactions, which are other Act 2 provisions, will increase state income and franchise tax revenues by an estimated $27.7 million in 2008 – 2009, $75.6 million in 2009 –2010, and $111.7 million in 2010 ...
Nov 21, 2023 · A unitary system of government is a political structure in which one level of government retains the bulk of political power. Governments divide into two main categories: unitary and federal ...
On April 15, 2008, the Court clarified in Mead that the operational function test is not a separate test for finding apportionable income, stating that the test was “not intended to modify the unitary business principle by adding a new ground for apportionment,” 3 but simply recognizes that an asset can be part of a taxpayer’s unitary ...
Jun 30, 2023 · Eight states—Alaska, Florida, Nevada, South Dakota, Tennessee, Texas, Washington, and Wyoming—levy no state income tax whatsoever. New Hampshire, which currently taxes investment income and ...
A tax incidence depends on the relative price elasticity of supply and demand. When supply is more elastic than demand, buyers bear most of the tax burden, and when demand is more elastic than supply, producers bear most of the cost of the tax. Tax revenue is larger the more inelastic the demand and supply are. 5.4 Elasticity in Areas Other ...
