Arizona § 43-942 Allocation in the case of controlled corporations

Arizona Statutes

§ 43-942 — Allocation in the case of controlled corporations

Arizona·Title 43 Arizona Revised Statutes·Ch. 9 GENERAL ACCOUNTING PROVISIONS·Art. 4 Allocation of Income and Deductions by the Department

A.In any case of two or more corporations owned or controlled directly or indirectly by the same interests, the department may distribute, apportion or allocate gross income, deductions, credits or allowances between or among such taxpayers, if it determines that such distributions, apportionment or allocation is necessary in order to prevent evasion of taxes or clearly to reflect the income of any such taxpayer.

B.For the purpose of enforcing this section, the department may require the filing of a combined report and such other information as it deems necessary unless the taxpayer has elected or is required to file a consolidated return pursuant to section 43-947.

Free access — add to your briefcase to read the full text and ask questions with AI

A. In any case of two or more corporations owned or controlled directly or indirectly by the same interests, the department may distribute, apportion or allocate gross income, deductions, credits or allowances between or among such taxpayers, if it determines that such distributions, apportionment or allocation is necessary in order to prevent evasion of taxes or clearly to reflect the income of any such taxpayer.

B. For the purpose of enforcing this section, the department may require the filing of a combined report and such other information as it deems necessary unless the taxpayer has elected or is required to file a consolidated return pursuant to section 43-947.

Arizona § 43-942 (Allocation in the case of controlled corporations) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.