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Simple English definitions for legal terms

unitary business

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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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lilypadfrog
15:36
found out my stats twin on here went to middle school with me
15:36
Wrf
Honestly, I might put a Chi R on my app page since I withdrew due to missed II waves
is that crazy or does that ruin the data?
choosingpeace
15:36
don't do that
lilypadfrog
15:36
I would mark just that you withdrew it
o shi ok
it just feels like I left before the WL or R, feels fake as hell. I guess I'll put withdraw on it
choosingpeace
15:37
anyone been to the city of philly plzzz tell me what ur experience was like
cumsock
15:37
@choosingpeace: Philly doesn’t stink whoever said that is dumb
cumsock
15:38
It’s the 6th biggest city in the country there is plenty to do and eat and so on and so forth of course it has bad areas but so does every city
why would you withdraw girl
15:38
@ImpartialLion: nah cuz there’s no way of knowing if they would’ve sent u an II later on
15:38
Isn’t uchicago like Top 4 tho
choosingpeace
15:38
@cumsock: they said there's like nothing to do there lol
choosingpeace
15:38
ive never been so i was just like ohhh
texaslawhopefully
15:38
UChicago is number one
^ period
u know it was a double thing. I missed II and my gf didn't want to live in the midwest anymore
15:39
But it’s fucking uchicago thooo LOL
15:39
I
15:40
Makes sense tho
cumsock
15:40
@choosingpeace: there’s plenty to do in Philly 😂 it’s a giant city
So after missing the II, I was like whatever. Maybe it's a sign to withdraw
nah making decisions off the gf is out of pocket
nahhhhh we been together since 10th grade
texaslawhopefully
15:40
I guess it depends what your goals are. If it's generic biglaw, CLS will get you the same outcome
6 yrs on January 30th
lilypadfrog
15:40
awwww <3 i love love
I also like CLS for liberal clerking. approx 41 FCOA clerks per yr
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