The right to file on a consolidated basis is available to a group of corporations when they constitute a "parent- subsidiary affiliated group."

Question

Quizplus · Accepted Answer

A group of corporations can file a consolidated tax return if they are affiliated through common ownership, typically defined as one or more chains of corporations connected through stock ownership with a common parent corporation. This arrangement is known as a "parent-subsidiary affiliated group."

The Right to File on a Consolidated Basis Is Available