A Unitary Business Is Treated as a Single Entity for State

question 38

True/False

A unitary business is treated as a single entity for state tax purposes, with a combined apportionment formula including data from all of the operations of the business.

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Definitions:

Ethically

Pertaining to or dealing with morals or the principles of morality; relating to right and wrong in conduct.

Judicial Review

The process by which courts decide on the constitutionality of legislative enactments and actions of the executive branch.

Congressional Approval

The act of obtaining official permission or endorsement from the United States Congress for certain actions, laws, or regulations.

International Jurisdiction

The legal authority granted to a country or international body to regulate matters involving parties, activities, or conduct that crosses international boundaries.