Members of unitary group; combined returns
Sec. 2. A combined return must include the adjusted gross income
of all members of the unitary group, even if some of the members
would not otherwise be subject to taxation under this article. The
department may require a member of a unitary group to provide any
information that is needed by the department to determine the unitary
group's apportioned income under this article. However, income of
corporations or other entities organized in foreign countries, except
a foreign bank (or its subsidiary) that transacts business in the United
States, shall not be included in the combined return. In addition, the
taxpayer shall eliminate, in calculating adjusted gross income, all
income and deductions from transactions between entities that are
included in the unitary group.
As added by P.L.347-1989(ss), SEC.1. Amended by P.L.21-1990,
SEC.31.
Last modified: May 28, 2006