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Apr 14, 2014 · In this edition of New York Tax Reform Made Easy, we will address how the Budget implements unitary combined reporting and expands the use of economic presence nexus. Unitary Combined Reporting. 1. Background. The Budget’s most significant change to the Corporate Franchise Tax is the adoption of unitary combined group reporting.
Apr 14, 2015 · The unitary business principle originated in the United States in the 19th century with state property taxes and transcontinental railroad and express companies. The issue in those early cases was ...
Apr 8, 2010 · Worldwide unitary taxation came under assault in the 1980s and 1990s. In recent years, unitary combined reporting has seen a resurgence, as Vermont (2006), New York (2007), Michigan and Texas (2008), and Massachusetts, West Virginia, and Wisconsin (2009) have jumped on the bandwagon. Although "worldwide unitary combined reporting" was upheld ...
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. While the regulation and requirements vary greatly among states, some generalities may be used to explain the concept.
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 ...
UNITARY CONCEPT. for State Income Tax Purposes. BY DAVID W. JOY AND JO LYNNE KOEHN. The key point in determining the state income tax for a company conducting interstate commerce is how the unitary business concept applies to the computation of taxable income.
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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.
