Apportionment Issues

Schadewald, Michael S.
September 2008
Journal of State Taxation;Sep/Oct2008, Vol. 26 Issue 6, p9
Academic Journal
The article reports that Massachusetts has adopted mandatory combined reporting which include the reviews on the definition of unitary business, waters-edge reporting with worldwide election and the calculation of taxable income. It notes that the combined group's taxable income equals the total allocatable income derived from the unitary business of every taxable and nontaxable member of the combined group. Moreover, it notes that a taxpayer may elect without the consent of the commissioner and the commissioner shall adapt policies in order to carry out the new combined reporting requirements including the intercompany transactions elimination, tax credits sharing and application of any net operating loss.


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