Consolidated returns -- computation of tax liability / George L. White and Brian A. Peabody.

Computation of consolidated tax liability 2007-2023

Arlington, VA : Bloomberg Industry Group, [2007]-

Updated irregularly

Tax management portfolios ; 756-5th.

" ... analyzes the computation of tax liability by an affiliated group of corporations filing a consolidated return. Consolidated tax liability is computed in four general steps. First, the separate taxable income or loss of each member is determined in accordance with the eliminations and adjustments peculiar to consolidated returns (e.g., intercompany transactions, net operating losses, etc.). Next, items that were excluded from the computation of separate taxable income are computed on a consolidated basis. Then, consolidated taxable income is determined by adding the results obtained in the first two steps. Finally, the tax is determined on the amount of consolidated income and reduced by consolidated tax credits. This Portfolio discusses and analyzes these steps."

Formerly published by Tax Management, 2007-2023.

Includes bibliographical references.

Title from title screen update, viewed June 13, 2024.

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