Advantages and disadvantages of filing consolidated returns

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Reference no: EM131811646

There are times in which corporations with subsidiaries will be able to file a consolidated return. In doing so, they can eliminate any intercompany profits and losses on the principle that its tax liability should be based on transactions with outsiders. Taking this concept a step further, what are the main advantages and disadvantages of filing consolidated returns? Provide some examples of companies who file consolidated returns.

Reference no: EM131811646

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