State Mandatory Combined Reporting: Complex Formula or ‘Loophole’ Closer?

State Mandatory Combined Reporting! You’re probably wondering what this obscure state tax concept means and whether it impacts your company’s state corporate taxes. Before jumping into today’s discussion, here are a few questions to consider. Is your company a subsidiary or affiliate within a “controlled group” of corporations? Do any of the “controlled group” corporations do business in multiple […]

Massachusetts Department of Revenue Offers an Opportunity to Withdraw “Binding” 2009 Worldwide or Affiliated Group Election

Administrative Guidance, Filing Elections:     On January 20, 2011, the Massachusetts Department of Revenue (“the Department”) issued Department of Revenue Directive 11-1: Limited Time Allowance for Withdrawal of Election Made in Connection with 2009 Combined Report, in response to the Department’s belief that some Massachusetts combined groups may have erroneously made either a worldwide or […]