" ... analyzes the problems relating to the computation of tax liability by an affiliated group of corporations filing a consolidated return. Consolidated tax liability is computed in four 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, inventory, 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."
Published: Washington, D.C., -. Title from title screen (viewed Feb. 20, 2013).
Bibliography, etc. Note
Includes bibliographical references.
Formatted Contents Note
Detailed analysis. Introduction Liability for income tax Alternative minimum tax liability Liability for penalty taxes on undistributed income Consolidated tax credits Working papers.
Digital File Characteristics
System Details Note
Mode of access: World Wide Web.