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Simple English definitions for legal terms

unitary business

Read a random definition: hudegeld

A quick definition of unitary business:

A unitary business is a company that has branches or offices in different states or countries. When it comes to paying state income tax, the company calculates how much of its subsidiary's income is earned within each state and pays taxes on that amount. This helps ensure that the company is paying its fair share of taxes in each location where it does business.

A more thorough explanation:

A unitary business is a type of business that has subsidiaries in other states or countries. When calculating its state income tax, the business determines what portion of a subsidiary's income is attributable to activities within the state and pays taxes on that percentage.

For example, let's say Company A has a subsidiary in State X. The subsidiary generates $1 million in revenue, but only $100,000 of that revenue is attributable to activities within State X. Company A would only pay state income tax on that $100,000, not the full $1 million.

Another example is Company B, which has subsidiaries in multiple countries. When calculating its state income tax in the United States, Company B must determine what portion of each subsidiary's income is attributable to activities within the state and pay taxes on that percentage.

These examples illustrate how a unitary business calculates its state income tax based on the portion of a subsidiary's income that is attributable to activities within the state. This method ensures that the business is only paying taxes on the income that is generated within the state, rather than its entire revenue.

union-security clause | unitary state

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18:21
You should have said to refund you or give 300 off
18:21
wasp is wasp
18:21
knows how be rich and demand shit lmfao
i am atheist not protestant
18:22
same thing tho ya? - catholic
BulbasaurNoLikeCardio
18:23
Ill just keep arguing for more money off until I get it or they end up paying me to take it lmao
18:24
what other guns ya got
are we losing hope for gtown lol
yeah i dont think gtown does A's this late unfortunately
18:25
it is like 630 on a friday there bud
18:25
think it is safe to say it aint happenin today\
damn it was a slow day today
BulbasaurNoLikeCardio
18:26
I got a custom built Leftie ar15 I run suppressed, a regular ar15, a .270 axis savage bolt gun, xd9, xd40 and have my AR10 I run suppressed.
BulbasaurNoLikeCardio
18:26
I do not think we will see a wave until after thanksgiving. Adcoms will be nice and not ruin someones thanksgiving with an R
18:28
ruin my thanksgiving law schools uwu
PerpetualCheerfulBeaver
18:53
I really thought a texas schools wave was going to hit today...guess it will be December 1
7Rings
19:00
No news is good news 😜
PerpetualCheerfulBeaver
19:10
the mentality im embracing
ClassyPleasantHeron
19:23
You will see some A waves next week, just before Thanksgiving. Schools like to give people things to talk about over the holidays.
19:26
my predict monday berk from earlier td
snow
19:33
Oregon decision rendered…
snow
19:33
Bro why don’t they just tell me lol
damn ive been under review for a month and no movement, when did u apply snow?
snow
19:39
The day apps opened. I still don’t know what the decision is tho lol
Dang. Crossing my fingers for you!!
snow
19:41
Thank you!!
shaquilleoatmeal
19:44
Snow dude wtf you been
snow
19:46
Working! I was prepping for a trial but it got reset!
snow
19:47
Have you don your gulc interview?
JumpySubsequentDolphin
19:47
@snow: snow!!!! I’m in Oregon should I break into admissions office and demand your decision be sent
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