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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 ...
Sep 26, 2017 · Published on 26 Sep 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.
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- Examples of Unitary States
- Unitary States vs. Federations
- Unitary States vs. Authoritarian States
- Pros and Cons
Of the 193 member countries of the United Nations, 165 are unitary states. The United Kingdom and France are two well-recognized examples.
The opposite of a unitary state is a federation. A federation is a constitutionally organized union or alliance of partially self-governing states or other regions under a central federal government. Unlike the largely powerless local governments in a unitary state, the states of a federation enjoy some degree of independence in their internal affa...
Unitary states should not be confused with authoritarian states. In an authoritarian state, all governing and political power is vested in a single individual leader or small, elite group of individuals. The leader or leaders of an authoritarian state are not chosen by the people, nor are they constitutionally responsible to the people. Authoritari...
The unitary state is the most common form of government in the world. This system of government has its benefits, but as with all schemes of dividing power between government and the people, it also has drawbacks.
Combined reporting is a state income tax filing/apportionment methodology whereby a taxpayer’s state tax liability is determined by including the income and factors of the entire unitary business. Includible affiliated entities may be limited to domestic (US) affiliates (known as water’s-edge filing) or may include all affiliates, foreign ...
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 ...
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. For example, the apportionment of income between business and non-business income typically depends upon how a state applies the unitary business concept.
Dec 8, 2010 · The Unitary Business Principle, Broadly One of the fundamental constitutional limitations on state corporate income taxation is that a state may not tax a corporation's income unless there is "some definite link, some minimum connection, between a state and the person, property or transaction it seeks to tax."
