Yahoo Web Search

Search results

1. www.ftb.ca.gov › forms › 20192019 Publication 1061 - Guidelines for Corporations Filing a ...

   www.ftb.ca.gov › forms › 2019

   attributable to this state, California utilizes the unitary business principle. This concept has been validated by income and franchise tax cases for more than 80 years. Under the unitary method, as applied by California, all of the elements comprising a single trade or . business are viewed as a whole or unit, hence the term “unitary.”

   • File Size: 426KB

   • Page Count: 30

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

   www.thetaxadviser.com › issues › 2019

   • Cached

   Sep 1, 2019 · 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. People also ask

   How does California tax a unitary business?

   • If two or more corporations are engaged in a unitary business and derive income from sources within and outside of California, the members of the unitary group that are subject to California’s franchise or income tax are required to apportion the combined income of the entire unitary group in order to compute the measure of tax.

   2021 Corporation Tax Booklet 100 | FTB.ca.gov - Franchise Tax Board

   www.ftb.ca.gov/forms/2021/2021-100-booklet.html

   See all results for this question

   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

   bizfluent.com/info-8436477-unitary-state-income-tax.html

   See all results for this question

   How is combined unitary business income apportioned to California?

   • Once income and apportionment factors have been placed on a common accounting period, combined unitary business income is apportioned to California and to each of the taxpayer member corporations filing returns in California.

   2019 Publication 1061 - Guidelines for Corporations Filing a Combin…

   www.ftb.ca.gov/forms/2019/2019-1061-publication.pdf

   See all results for this question

   What is a unitary group tax return?

   • See Cal. Code Regs., tit. 18 section 25106.5-11 for more information. The group return satisfies the requirement of each electing member to file its own return. The tax liability of each member of the unitary group must be computed using the combined reporting procedures described in this publication.

   2019 Publication 1061 - Guidelines for Corporations Filing a Combin…

   www.ftb.ca.gov/forms/2019/2019-1061-publication.pdf

   See all results for this question

4. www.marcumllp.com › insights › state-corporateState Corporate Income Taxation: Trends in Combined Reporting

   www.marcumllp.com › insights › state-corporate

   • Cached

   • Unitary Group Opportunities
   • Functional Integration
   • Centralization of Management
   • Economies of Scale
   • Jurisdictional Inconsistency
   • Sources

   While combined reporting often limits potential opportunities for impacted businesses through the imposition of mandatory rules under separate reporting regimes, several opportunities may be available, including defining the unitary group subject to combination, as well as apportionment planning in the proper calculation of the sales factor. In mos...

   See full list on marcumllp.com

   The functional integration test looks to shared functions and refers to transfers between, or pooling among, business entities that significantly affect the operation of the business activities.5Generally, functional integration includes, but is not limited to, transfers or pooling with respect to the business’s products or services, technical info...

   See full list on marcumllp.com

   The centralized management test focuses on not the ability to control but the actual amount of common control exercised between business segments. Centralization of management exists when directors, officers, and/or other management employees jointly participate in the management decisions that affect the respective business activities and that may...

   See full list on marcumllp.com

   The economies of scale test focuses on whether there is any income earned as a result of shared functions, activities, or operations. Economies of scale refer to a relation among and between business activities resulting in a significant decrease in the average per-unit cost of operational or administrative functions due to the increase in operatio...

   See full list on marcumllp.com

   Currently, approximately 30 jurisdictions mandate unitary combined reporting for general corporations that are commonly owned or controlled. However, notwithstanding the constitutional tests discussed above, these states adopt varying statutory definitions of “unitary” for purposes of combined reporting. Even in cases where the definitions in diffe...

   See full list on marcumllp.com

   Butler Brothers v. McColgan, 315 U.S. 501 (1942); See also 17 Cal. 2d 664.

   Edison California Stores v. McColgan, 183 P.2d 16 (1947).

   Mobil Oil Corp. v. Commissioner of Taxes of Vermont, 445 U.S. 425 (1980).

   Ibid.

   See full list on marcumllp.com

5. www.natlawreview.com › article › decodingDecoding Combination: What Is a Unitary Business

   www.natlawreview.com › article › decoding

   • Cached

   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 ...

6. www.ftb.ca.gov › forms › 20212021 Corporation Tax Booklet 100 | FTB.ca.gov

   www.ftb.ca.gov › forms › 2021

   • Cached

   If two or more corporations are engaged in a unitary business and derive income from sources within and outside of California, the members of the unitary group that are subject to California’s franchise or income tax are required to apportion the combined income of the entire unitary group in order to compute the measure of tax.

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

   bizfluent.com › info-8436477-unitary-state-income

   • Cached

   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.

8. cookcpagroup.com › california-accountant-unitaryCalifornia CPA for Unitary Determinations - Cook CPA Group

   cookcpagroup.com › california-accountant-unitary

   • Cached

   This is known as the unitary method and it entails combining all of the activities from a unitary business into one report, which is used to compute the business’s tax liability.