§11-24-20. Report of Change in Federal Taxable Income
(a) Unless the provision of §11-21A-1 et seq. of this code apply, if the amount of a taxpayers federal taxable income reported on its federal income tax return for any taxable year is changed or corrected by the United States internal revenue service or other competent authority, or as the result of a renegotiation of […]
§11-24-21. Change of Election
Any election expressly authorized by this article, other than any election expressly stated to be irrevocable, may be changed on such terms and conditions as the Tax Commissioner may prescribe by regulation.
§11-24-22a. Tax Credit for Value-Added Products From Raw Agricultural Products; Regulations; Termination of Credit
(a) Effective for taxable years beginning July 1, 1997, notwithstanding any provisions of this code to the contrary, any new corporation engaged solely in the production of value-added products from raw agricultural products are allowed a credit, in the amount of $1,000 for each taxable year against the tax imposed by this article, for a […]
§11-24-23. Credit for Consumers Sales and Service Tax and Use Tax Paid
The tax imposed by this article shall be subject to the credit set forth in section nine-b, article fifteen of this chapter, and the credit set forth in section three-b, article fifteen-a of this chapter.
§11-24-13a. Method of Filing for Business Taxes
(a) Privilege to file consolidated return. — (1) An affiliated group of corporations as defined for purposes of filing a consolidated federal income tax return shall, subject to the provisions of this section and in accordance with any regulations prescribed by the Tax Commissioner, have the privilege of filing a consolidated return with respect to […]
§11-24-13b. Information Return for Corporations Electing to Be Taxed Under Subchapter S
Every corporation electing to be taxed under subchapter S of the Internal Revenue Code of 1986, as amended, shall on or before the fifteenth day of the third month following the close of the taxable year file an information return for each tax year providing such information as the Tax Commissioner may prescribe. Corporations failing […]
§11-24-13c. Determination of Taxable Income or Loss Using Combined Report
(a) The use of a combined report does not disregard the separate identities of the taxpayer members of the combined group. Each taxpayer member is responsible for tax based on its taxable income or loss apportioned or allocated to this state, which shall include, in addition to other types of income, the taxpayer member's apportioned […]
§11-24-13d. Determination of the Business Income of the Combined Group
The business income of a combined group is determined as follows: (a) From the total income of the combined group, determined under subsection (b) of this section, subtract any income and add any expense or loss, other than the business income, expense or loss of the combined group. (b) Except as otherwise provided, the total […]
§11-24-13e. Designation of Surety
As a filing convenience, and without changing the respective liability of the group members, members of a combined reporting group may annually elect to designate one taxpayer member of the combined group to file a single return in the form and manner prescribed by the department, in lieu of filing their own respective returns, provided […]
§11-24-13f. Water's-Edge Reporting Mandated Absent Affirmative Election to Report Based on Worldwide Unitary Combined Reporting Basis; Initiation and Withdrawal of Worldwide Combined Reporting Election
(a) Water's-edge reporting. — Absent an election under subsection (b) of this section to report based upon a worldwide unitary combined reporting basis, taxpayer members of a unitary group shall determine each of their apportioned shares of the net business income or loss of the combined group on a water's-edge unitary combined reporting basis. In […]