Separate-Return States Require Each Member of a Consolidated Group with Income

question 97

True/False

Separate-return states require each member of a consolidated group with income tax nexus to file their own state income tax return.

---

Definitions:

Obligor

An individual or entity that is legally bound to fulfill an obligation, such as making a payment or performing a service, under a contract.

Notice

Formal information or warning given to a person or public about an event, decision, or action.

Assignment Valid

Refers to the legal transfer of one party's rights and benefits under a contract to another party, recognized as legitimate and binding.

Delegable

Capable of being assigned or entrusted to another person or party, particularly in the context of duties or authority.