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What is unitary state income tax?
Why do corporations have multiple unitary tax returns?
Can foreign corporation income be included in a state's 'unitary combined report'?
When did unitary taxation come under attack?
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.
What is Unitary Combination? Twenty-four of the 47 States that impose income tax on corporations employ the "unitary combined reporting" method of taxation.
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 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.
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.
CPA Journal Online. The. 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.
the operation of the business outside the state, the opera-tions are unitary; otherwise, if there is no such contribution or dependency, the business within the state may be consid-ered to be separate.16 4See State Railroad Tax Cases, 92 U.S. 575 (1875). 5166 U.S. 185 (1897). 6Id. at 222. 7254 U.S. 113 (1920). 8Id. at 120. 9 Id.at 121.
