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   What is unitary state income tax?

   • 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 State Income Tax? | Bizfluent

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   Why do corporations have multiple unitary tax returns?

   • This allows the corporations to break related operations into multiple unitary tax returns. One advantage of this method is management can better manage the appropriation of their tax dollars and to assure income is taken only by the states associated with the sale of the products and services.

   What Is Unitary State Income Tax? | Bizfluent

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   Why is unitary combined reporting becoming more popular?

   • The increased acceptance of mandatory unitary combined reporting has been driven by state budgetary shortfalls and the perceived distortion of taxable income by multistate corporations filing separate company reports. A characteristic permeating each state’s reporting methodology is a broadly defined concept of the unitary business group.

   The Recent Growth of Mandatory Unitary Combined Reporting

   www.thetaxadviser.com/issues/2010/feb/therecentgrowthofmandatoryunitarycombinedreporting.html

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   Which states have mandatory unitary combined reporting?

   • Editor: Greg A. Fairbanks, J.D., LL.M. The use of mandatory unitary combined reporting has become increasingly popular among states in recent years. West Virginia, Massachusetts, and Wisconsin each unveiled combined reporting regimes for tax years beginning on or after January 1, 2009, and more states are likely to follow in the near future.

   The Recent Growth of Mandatory Unitary Combined Reporting

   www.thetaxadviser.com/issues/2010/feb/therecentgrowthofmandatoryunitarycombinedreporting.html

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2. www.thetaxadviser.com › issues › 2019Worldwide combined reporting: An underutilized opportunity

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   The first difference is a concept unique to state reporting — the unitary business principle. A U.S. consolidated federal income tax return is made by taxpayer election and requires 80% ownership of vote and value, and the Sec. 1504 affiliated group includes only U.S. corporations.

3. pro.bloombergtax.com › portfolio › income-taxesIncome Taxes: Consolidated Returns and ... - Bloomberg Tax

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   Tax Management Portfolio Income Taxes: Consolidated Returns and Combined Reporting, No. 1130, compares state combined reports and state consolidated returns in detail and discusses the mechanics and implications of filing combined reports and the different types of state consolidated returns.

4. www.alvarezandmarsal.com › insights › news-flash-allNews Flash: All States Are Unitary States | Alvarez & Marsal ...

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   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.

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6. bizfluent.com › info-8436477-unitary-state-incomeWhat Is Unitary State Income Tax? | Bizfluent

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   Sep 26, 2017 · by Betsy Gallup. 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.

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     Colorado Lawmakers Pass Bill to Alter Corporate Tax Reporting

     Colorado could soon change rules for corporate tax reporting and revamp the state child care tax credit after the state House gave final app...

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8. itep.org › combined-reporting-of-state-corporateCombined Reporting of State Corporate Income Taxes: A Primer

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   Feb 24, 2017 · How Combined Reporting Works. For corporations that only do business in one state, paying corporate income taxes can be simple – all of their profits are taxable in the state in which they are located. For corporations with subsidiaries in multiple states, the task of determining the amount of profits subject to taxation is more complicated.

9. www.reddit.com › r › AccountingCombined vs consolidated reporting for states. What's the ...

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   Combined reporting: a method of reporting/filing returns where all affiliates engaged in a unitary business must include their income, expenses, apportionment, etc. on a single report to calculate the group's tax liability.