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1. www.taxprofessionals.com › articles › all-you-needAll You Need to Know About Consolidated Tax Return

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   A consolidated tax return is a corporate income tax return of an affiliated group, who elect to report their combined tax liability on a single return. How To File A Consolidated Tax Return. Consent by all the corporations within a group to file a consolidated return, which subsidiaries do by filing Form 1122, Authorization and Consent Income ...

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

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   Issues discussed include those arising when a group files a consolidated federal income tax return, but one or more members file in a taxing state using the separate return method. The Portfolio also discusses issues that may arise in filing state combined reports and contrasts how these issues have been handled at the state level with the ...

3. taxsummaries.pwc.com › corporate › group-taxationUnited States - Corporate - Group taxation

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   Feb 7, 2024 · Form 8975 is used to report a US MNE group’s income, taxes paid, and other indicators of economic activity on a CbC basis. Form 8975 must be filed with the income tax return of the parent entity in which the reporting period ends and cannot be filed as a stand-alone return. Form 8975 and its schedules can be filed in the Modernized e-File ...

4. www.investopedia.com › consolidated-tax-returnWhat Is a Consolidated Tax Return? Filing ... - Investopedia

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   May 21, 2024 · Consolidated Tax Return: A comprehensive tax return that encompasses a group of smaller entities. Consolidated tax returns are often filed by business conglomerates on behalf of all subsidiary ...

   • Author: Julia Kagan

5. comptroller.texas.gov › franchise › faqFranchise Tax Frequently Asked Questions

   comptroller.texas.gov › franchise › faq

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   How does a combined group determine its accounting period? If two or more members of a combined group file a federal consolidated return, the group's accounting period is the federal taxable period of the federal consolidated group. In all other instances, the accounting period is the federal taxable period of the reporting entity.

6. www.ftb.ca.gov › forms › 2020Guidelines for Corporations Filing a Combined Report

   www.ftb.ca.gov › forms › 2020

   For taxable years beginning on or after January 1, 2020, and before January 1, 2023, the total of all credits including the carryover of any credit for the taxable year may not reduce the “tax” by more than $5,000,000. For taxpayers included in a combined report, the limitation is applied at the group level.

7. People also ask

   Does a group file a federal consolidated return?

   • Furthermore, this may be so regardless of whether the group files a federal consolidated return or federal separate returns. In addition, the Portfolio addresses the state tax implications of federal consolidated returns and the federal consolidated return regulations.

   Income Taxes: Consolidated Returns and Combined ... - Bloomberg Tax

   pro.bloombergtax.com/portfolio/income-taxes-consolidated-returns-and-combined-reporting-portfolio-1130/

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   What happens if an affiliated group files a consolidated tax return?

   • An affiliated group electing to file a consolidated tax return may substantially alter its combined overall tax liability. For example, a consolidated return ignores sales between connected corporations and therefore no tax is marked. Deferment of taxable gains or losses become realized with the ultimate sale to an outside third party.

   What Is a Consolidated Tax Return? Filing Process, Pros, and Cons

   www.investopedia.com/terms/c/consolidated-tax-return.asp

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   What is a group consolidated tax return?

   • The consolidation of the tax returns of any affiliated group includes consolidating the group's regular income tax, foreign tax credit, accumulated tax earnings, and any tax credits. Most importantly the parent company is liable to serve as the groups agent as regards filing the consolidated Form 1120 and also paying the federal tax liability.

   All You Need to Know About Consolidated Tax Return

   www.taxprofessionals.com/articles/all-you-need-to-know-about-consolidated-tax-return-4067

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   Can a combined reporting group elect to file a group return?

   • The FTB has adopted regulations under which some or all of the taxpayer members of a combined reporting group may elect to file a group return. See Cal. Code Regs., tit. 18 section 25106.5-11 for more information. The group return satisfies the requirement of each electing member to file its own return.

   Guidelines for Corporations Filing a Combined Report

   www.ftb.ca.gov/forms/2020/2020-1061-publication.pdf

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8. www.nj.gov › treasury › taxationCombined Group Filing Methods - The Official Web Site for The ...

   www.nj.gov › treasury › taxation

   The allocation method is tied to the combined return method that the managerial member uses to file the combined return. The water’s-edge and world-wide group combined returns both use the Joyce method pursuant to N.J.S.A. 54:10A-4.7. As statutorily prescribed by N.J.S.A. 54:10A-4.11.c, affiliated group combined returns follow the Finnigan ...