Combined reporting treats affiliated companies that are part of a unitary group as one entity for tax purposes, so the group only files one return. Unitary combined reporting applies to: Multi-state businesses that are part of a unitary group; and The portion of the unitary business that occurs both within and outside the U.S. borders.
Combined Reporting and Apportionment For tax years on or after December 31, 2025, Illinois will adopt the Finnigan method for unitary combined reporting. Under this approach, all sales by members of a unitary group—regardless of whether those members have nexus with Illinois—must be included in the Illinois sales factor numerator.
Thus, in general, the principles set forth in the Treasury regulations promulgated under Section 1502 of the Internal Revenue Code (including the principles relating to deferrals, eliminations, intercompany offsets, etc.) apply to the extent they are consistent with the New Jersey Corporation Business Tax Act and the unitary business principles ...
Connecticut charges a 10% surtax on a business's tax liability if it has gross proceeds of $100 million or more, or if it files as part of a combined unitary group. This surtax was recently extended and is scheduled to expire on January 1, 2029. Illinois' rate includes two separate corporate income taxes, one at a 7% rate and one at a 2.5% rate.
When looking at unitary groups, a corporation will be deemed to be deriving receipts from activities in the City if: Such corporation is part of a unitary group; Such corporation has New York City receipts of at least $10,000; and
Labour tax raids blamed as collapse of pub chain triggers 591 job losses Bar owner to sell part of business and confirms immediate closure of two dozen venues Gift this article free
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