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State Corporate Tax Shelters and the Need for “Combined Reporting”

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A growing number of states are adopting or considering a key corporate tax reform known as “combined reporting.” Most large corporations consist of a parent corporation and its subsidiaries; combined reporting effectively treats the parent and most or all of its subsidiaries as a single corporation for state income tax purposes.This report discusses some of the corporate tax-avoidance strategies to which non?combined reporting states are most vulnerable and explains how combined reporting can help a state preserve a strong and fair corporate income tax.