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Federal taxable income is used as the starting point in computing the states income tax base, but various state adjustments or modifications generally are required
Federal taxable income is used as the starting point in computing the states income tax base, but various state adjustments or modifications generally are required to:
a. | Reflect differences between state and Federal tax statutes. | |
b. | Remove income that a state is constitutionally prohibited from taxing. | |
c. | Allow for all states to use the same definition of taxable income. | |
d. | Choices a. and b. |
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