State taxation of multijurisdictional corporate income
This article analyzes the taxation methods used by the states and describes what constitutes a unitary business. The authors give a historical perspective of the relevant court decisions in this area. The fact that almost 40% of the Supreme Court cases addressing this issue involve large oil companies illustrates the importance of this area to oil companies. The authors discuss the need for uniformity in state laws and the need for congressional action after the case analysis. They note the reluctance and sometimes refusal of many corporations to furnish the information needed to determine unitary issues, and cite the questionnaires some states require the corporations to file. They also cite the fairness issue when only some states tax foreign income. Congress appears to be in the best position to evaluate the multiple factors and assess the arguments surrounding the policy issues.
- OSTI ID:
- 6318643
- Journal Information:
- Oil Gas Tax Q.; (United States), Journal Name: Oil Gas Tax Q.; (United States) Vol. 34:2; ISSN OGTQD
- Country of Publication:
- United States
- Language:
- English
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Related Subjects
021000* -- Petroleum-- Legislation & Regulations
29 ENERGY PLANNING, POLICY, AND ECONOMY
294002 -- Energy Planning & Policy-- Petroleum
ACCOUNTING
CASE LAW
DOCUMENT TYPES
INCOME
INDUSTRY
INFORMATION NEEDS
LAWS
LEGAL ASPECTS
MULTINATIONAL ENTERPRISES
PETROLEUM INDUSTRY
REGULATORY GUIDES
STATE GOVERNMENT
TAX LAWS
TAXES