Unitary business means one or more related business organizations engaged in business activity both within and outside the State among which there exists a unity of ownership, operation, and use; or an interdependence in their functions.
Unitary business means a single economic enterprise that is made up either of separate parts of a single business entity or of a group of business entities under common ownership that are sufficiently interdependent, integrated, and interrelated through their activities so as to provide a synergy and mutual benefit that produces a sharing or exchange of value among them and a significant flow of value among the separate parts. "Unitary business" shall be construed to the broadest extent permitted under the Constitution of the United States. A business conducted by a partnership which is in a unitary business with the combined group shall be treated as the business of the partners that are members of the combined group, whether the partnership interest is held directly or indirectly through a series of partnerships, to the extent of a partner's distributive share of partnership income. The amount of partnership income to be included in the partner's entire net income shall be determined in accordance with subsection a. of section 3 of P.L.2001, c.136 (C.54:10A-15.6) or subsection a. of section 4 of P.L.2001, c.136 (C.54:10A-15.7), as applicable. A business conducted directly or indirectly by one corporation is unitary with that portion of a business conducted by another corporation through its direct or indirect interest in a partnership.
Unitary business means a single economic enterprise that is made up either of separate parts of a single business entity or of a group of business entities under com- mon ownership, which enterprise is sufficiently interdependent, integrated or interre- lated through its activities so as to provide mutual benefit and produce a significant sharing or exchange of value among such entities, or a significant flow of value among the separate parts. For purposes of this chapter, (A) any business conducted by a pass- through entity shall be treated as conducted by its members, whether directly held or indirectly held through a series of pass-through entities, to the extent of the member's distributive share of the pass-through entity's income, regardless of the percentage of the member's ownership interest or its distributive or any other share of pass-through entity income, and (B) any business conducted directly or indirectly by one corporation is unitary with that portion of a business conducted by another corporation through its direct or indirect interest in a pass-through entity if there is a mutual benefit and a significant sharing of exchange or flow of value between the two parts of the business and the two corporations are members of the same group of business entities under common ownership
Examples of Unitary business in a sentence
Unitary business" means a business activity that is characterized by unity of ownership, functional integration, centralization of management and economies of scale.[PL 1999, c.
Z Combined Unitary business income (loss) subject to apportionment 50,000 80,000 (5,000) 125,000 Apportionment percentages 6% 4% 4% 14% Income apportioned to D.C. (Combined income x apportionment %) 7,500 5,000 5,000 17,500 Non-business items wholly attributable to D.C. 2,500 (10,000) 0 D.C. net income (loss) 10,000 (5,000) 5,000 Application of NOL carryforward from Year 1 0 0 (5,000) D.C. net income (loss) 10,000 (5,000) 0 NOL available to be carried forward (100% of loss) 0 (5,000) 0 Corp.
Unitary business groups will no longer exclude members who are ordinarily required toapportion business income under different subsections of Section304.
Z Combined Unitary business income (loss) subject to apportionment (400,000) (10,000) 60,000 (350,000) Apportionment percentages 5% 1% 3% 9% Loss apportioned to D.C. (combined loss x apportionment %) (17,500) (3,500) (10,500) (31,500) Nonbusiness items wholly attributable to D.C. 50,000 (2,500) 0 D.C. net income (loss) 32,500 (6,000) (10,500) NOL available to be carried forward (100% of loss) 0 (6,000) (10,500) YEAR 2: Corp.
Unitary business is a concept of constitutional law defined in decisions of the United States Supreme Court.
More Definitions of Unitary business
Unitary business means business activities or operations of financial institutions that are of mutual benefit, dependent upon, or contributory to one another, individually or as a group, in transacting the business of a financial institution. "Unitary business" may be applied within a single legal entity or between multiple entities. "Unitary group" includes those entities that are engaged in a unitary business wholly within or within and without this state;
Unitary business means the activities of a group of two (2) or more corporations under common ownership that are sufficiently interdependent, integrated orinterrelated through their activities so as to provide mutual benefit and produce a significant sharing or exchange of value among them or a significant flow of value between the separate parts. The term “unitary business” shall be construed by Rhode Island to the broadest extent permitted under the United States Constitution.39
Unitary business means a single economic enterprise that is
Unitary business means business activities or operations that are of mutual benefit, dependent upon or contributory to one another, individually or as a group, in transacting the business of a financial institution. The term can be applied within a single entity or between multiple entities and without regard to whether each entity is a corporation, partnership, or trust. Unity is presumed if there is unity of ownership, operation, or use as evidenced by centralized purchasing, advertising, accounting, or other controlled interaction among entities that are members of the unitary group as defined in IC 6-5.5-1-18(a).
Unitary business means business activities or operations that result in a flow of value and includes both foreign and domestic companies. A business is presumed to be unitary whenever there is unity of ownership, operation, and use. Unity is also presumed when business activities or operations are of mutual benefit, dependent upon or contributory to one another, either individually or as a group.
Unitary business means a single economic enterprise made up either of separate parts of a single business entity or of a commonly controlled group of business entities that are sufficiently interdependent, integrated, and interrelated through their activities so as to provide a synergy and mutual benefit that produces a sharing or exchange of value among them and a significant flow of value to the separate parts. A "unitary business" includes that part of the business that meets the definition in this section and is conducted by a taxpayer through the taxpayer's interest in a partnership, whether the interest in that partnership is held directly or indirectly through a series of partnerships or other pass-through entities. A "unitary business" shall not include persons subject to, or that would be subject to if doing business in the Commonwealth, the insurance premiums license tax under Chapter 25 (§ 58.1-2500 et seq.), Code of Virginia, or the bank franchise tax under Chapter 12 (§ 58.1-1200 et seq.)
Unitary business means a single economic