Combined Corp. Tax Returns To Boost RI Revenues: Report

Law360, New York (March 17, 2014, 5:57 PM EDT) -- Rhode Island will boost its corporate tax collections if it requires state businesses to file combined income tax returns that account for out-of-state subsidiaries and switches from its current regime in which businesses file as separate entities, the state's tax agency said in a report released Monday.

The report's findings come after certain state businesses were required to calculate their 2011 and 2012 tax returns as if Rhode Island were a combined-reporting state, so the state Division of Taxation could analyze the impact of a possible...
To view the full article, register now.