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The concept of operational function simply recognizes that an asset can be part of a taxpayer’s unitary business even if what we may term a ‘unitary relationship’ does not exist between the ‘payor and the payee.’
Dec 21, 2011 · For example, when one entity acquires another entity that engages in a similar line of business, it is often clear that a unitary relationship will eventually develop between the companies.
Apr 14, 2015 · 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...
Definition. A unitary system is a form of government where power is centralized and held by a single central authority, such as the national government. This means that subnational units, like states or provinces, have only limited powers delegated to them.
Jan 24, 2018 · A unitary system is a political method of organization where most, if not all, of the governing power for a society rests within a centralized government. The government then rules as a single entity, where administrative divisions exercise powers only if the authority has been delegated to them.
The definition of a unitary business has figured prominently in several recent decisions of the U.S. Supreme Court on the constitutionality of state corporate income taxes.
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Nov 21, 2023 · What is an example of a unitary system? The United Kingdom is an example of a unitary system, because the authority for all its subsidiaries (England, Scotland, Wales, and Northern Ireland) comes...
