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The American Heritage Dictionary of Business Terms » unitary tax
unitary tax
unitary tax definition - business
unitary tax
A state corporate income tax on worldwide income. Although unpopular with corporations, governments institute unitary taxes to foil firms that use creative accounting techniques to transfer their income to states or countries with low income-tax rates. Unitary taxes are typically based on a combination of sales, payroll, and property attributed to a state.
The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.
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This definition was clearly written by a "tax and spend" proponent. Unitary taxes have very little to do with creative accounting practices and everything to do with the greed of state revenue boards. Look what the unitary tax system is doing to corporate residents of California and weep !!!
Posted by anonymous 75 days ago.