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Should a state impose mandatory unitary combined reporting?
Why is unitary combined reporting becoming more popular?
Is a business within a state a unitary business?
When did unitary taxation come under attack?
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.
Dec 8, 2010 · December 8, 2010. News Flash: All States Are Unitary States. Each year, many taxpayers file inaccurate corporate income tax returns in separate-reporting jurisdictions because they do not consider the unitary business principle applicable to those states.
Apr 8, 2010 · The resulting State tax filing and income apportionment could trip the 80/20 rule for unitary States where U.S. subsidiaries operate. Second, more unitary combined reporting States are adopting economic presence "nexus" to target foreign corporations.
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.
Apr 14, 2015 · The unitary business principle plays an important role not only as a criterion for combined reporting, but also as a touchstone for a state’s ability to tax extraterritorial values.
State Corporate Income Tax Filing Methods. Policy Position. Generally, states apportion the unitary business income of each separate taxable entity (separate reporting) or apportion the business income of the unitary group that includes one or more such taxable entities (combined reporting).
TEI Roundtable No. 43: Separate, Combined, and Worldwide Unitary State Filings | Tax Executive. Some practical advice for making these key decisions. by Tax Executive Staff. August 1, 2023.
