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LSDefine

Simple English definitions for legal terms

unitary business

Read a random definition: Ex Post Facto Clause

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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Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
BulbasaurNoLikeCardio
7:51
@texaslawhopefully: best prices and only fast food that doesn't make me sick
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