Consolidated tax return

Consolidated tax return

A tax return combining the reports of affiliated companies, that are at least 80% owned by a parent company.

Consolidated Tax Return

A tax return providing information on the assets, liabilities, profits, and losses of a group of affiliated companies. Each company's tax return is reconciled so that the return is treated as if it were for a single company. A parent company may file a consolidated tax return if it owns at least 80% of its subsidiaries.
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One common change that does not require the IRS's approval occurs when a subsidiary corporation joins an affiliated group filing a consolidated tax return.
1) If a corporation joins a federal consolidated tax return following an acquisition, the due date of that corporation's pre-acquisition federal tax return is the earlier of: (1) the due date of the consolidated federal tax return, or (2) the due date of the separate federal tax return, determined without regard to any change of its taxable year by inclusion in the federal consolidated tax return.
Immediate measures include: helping medium-sized businesses to invest through lifting the threshold for quarterly instalment payments of corporation tax; increasing the threshold for transfer pricing rules; and giving parent companies the option to submit a single consolidated tax return.
Since 1987 Mike has served as an adjunct professor-of-law at Villanova University Law School teaching domestic and international corporate tax planning and consolidated tax return courses.
Corporations filing a consolidated tax return must provide many Schedule M-3s.
Thus, a reporting entity that files a consolidated tax return including the VIE is required to consolidate the VIE in its financial statements.
Partly to compensate for the expected drop in tax revenues, the ministry proposed the introduction of a special tax surcharge on companies that choose to file a consolidated tax return.
Overseeing preparation of Searle's consolidated tax return gave him exposure to such treasury activities as borrowing and hedging and made him more keenly aware of the impact of tax on financial strategy.
One effect that has not been explored in light of this decision is the parent-subsidiary group that either files or could file a consolidated tax return.
Since the company files a consolidated tax return with Arkla, these credits could not be utilized due to Arkla's consolidated tax loss for those years.
Yjoin in filing a consolidated tax return for each corporation's respective short C year beginning with the S corporation and QSub termination date.
The loss on the sale of the asset by S in Year 3 would not be affected by the regulations, and would be included in the P group Year 3 consolidated tax return.

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