AGED CORPORATIONS

Constitutional and Statutory Limitations

There are many limitations on California’s power to tax income derived from sources outside of California. Jurisdictional and constitutional questions are present that may restrict states and the federal government by statute also can regulate states abi... Read >

Legislative Proposals

The states contend that they have a constitutional right to use the unitary method. They note the United States Supreme Court decisions upholding the tax. They feel that by agreeing to drop the unitary tax, they would be giving up a major source of reve... Read >

Methodology

The statute that enables the State of California to enforce the unitary method is found in the Revenue and Taxation Code. It states that when the income of a taxpayer subject to the Bank and Corporation Tax Law is derived from or attributable to sources ... Read >

Objections and Challenges

Objections to California’s unitary tax scheme are widespread. Corporations, particularly multinational, prefer not to be taxed on the unitary bases. The alternative to the unitary method is method similar to that used by the Federal government in taxing... Read >

NEVIS AND ST. KITTS

Nevis and St. Kitts are two islands located in the eastern Caribbean. Both islands comprise a single sovereign nation. Before 1983, their political status was that of a British colony. The official language is English and the official currency is the E... Read >