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- In this article, we will explore the foundation for combined reporting — the unitary business principle. The unitary business principle finds its roots in 19th-century property taxation, when the U.S. Supreme Court first observed that an integrated business should be taxed as one unit instead of separately accounting for its component parts.
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Apr 14, 2015 · In this article, we will explore the foundation for combined reporting — the unitary business principle. The unitary business principle finds its roots in 19th-century property taxation, when the...
Unitary business principle. Worldwide combined reporting at the state level involves a different system from the federal "worldwide" filing. The first difference is a concept unique to state reporting — the unitary business principle.
The unitary business principle is founded on the idea that many companies operate as an economically integrated unit, and that there is a flow of value that arises from this economic unit that is captured by the unitary principle.
Combined reporting essentially treats the parent and most subsidiaries as one corporation for state income tax purposes. Their nationwide profits are combined — that is, added together — and the state then taxes a share of that combined income.
- Michael Mazerov
This Technical Bulletin explains the unitary business principle and the definition of unitary business for New Jersey Corporation Business Tax purposes . For periods ending on and after July 31, 2023 (highlighting added for emphasis) the definition of a unitary business is defined in N.J.S.A. 54:10A-4(gg) as:
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Aug 27, 2021 · The determination to combine separate legal entities into one group is often based on the unitary business principle. There is no bright line “unitary” test, and states have adopted inconsistent standards.
Jun 1, 2011 · Combined Reporting and the Unitary Business Principle: A Doctrine That Has Not (Yet) made the Atlantic Crossing. The articles and essays included in this Edition offer an overview of the group reporting schemes in use across the country and examine the economic origins and the evolution of the unitary business principle that underlies combined ...
