Consolidated tax return

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Consolidated tax return

A tax return combining the reports of affiliated companies, that are at least 80% owned by a parent company.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
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They say that the main benefit of group registration is to simplify the procedures and save costs through consolidated tax returns and a single VAT registration.
562 (2011), the Court of Federal Claims held that a parent company and its subsidiary that filed consolidated tax returns would be the same taxpayer only if the payments were made by a taxpayer with the same taxpayer identification number (TIN) at the time of the payments.
Filing of consolidated tax returns is the fairest method but the impact is the largest, since the progressive rate can hit 40%.
Example 2: P, the common parent of an affiliated group that has elected to file consolidated tax returns, undergoes a Sec.
The Marriot Solana, in Westlake, Texas, was the site for TEI's Selected Issues in Consolidated Tax Returns. The seminar focused on the latest legislative, judicial, and administrative developments related to consolidated returns.
THE LIFE INSURANCE INDUSTRY has decided to relaunch its efforts to have Congress pass legislation allowing life insurance companies with property-casualty affiliates to file consolidated tax returns.
* File consolidated tax returns for locations in more than one county.
In its petition, the Justice Department argued that the court circumscribed the scope of authority to issue regulations too narrowly, only allowing it to address problems created by the filing of consolidated tax returns.
Noticeably absent are chapter topics included in the AICPA Model Tax Curriculum such as: (1) state and local taxation (multi-state taxation), a subject (despite not covered on the CPA examination), (2) e-commerce and cyber taxation, (3) multinational and cross-border taxation, (4) consolidated tax returns, (5) the increasingly popular topic of valuation for tax purposes, and (6) tax-exempt organizations.
Related companies in China cannot file consolidated tax returns, although they can file a combined return if certain conditions are met [2:23].
Since being acquired by CalEnergy, Magma Power has been included on the parent company's consolidated tax returns along with several other subsidiaries.
In February we have planned a half-day session on consolidated tax returns. In April, the chapter will hold its full-day session.

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