Requires combined groups to be determined on a worldwide basis under corporation business tax.

The bill mandates that combined groups be determined on a worldwide basis under the Corporation Business Tax Act. It modifies the method used to determine the members of a combined group, requiring them to be determined on a worldwide basis for privilege periods beginning on or after July 31, 2026. This change affects how income and losses are shared among members of a combined group, including provisions for net operating loss carryovers and tax credits. The bill also outlines rules for deferred intercompany transactions and the treatment of income from partnerships.

Requires combined groups to be determined on a worldwide basis under corporation business tax.

The bill mandates that combined groups be determined on a worldwide basis under the Corporation Business Tax Act. It modifies the method used to determine the members of a combined group, requiring them to be determined on a worldwide basis for privilege periods beginning on or after July 31, 2026. This change affects how income and losses are shared among members of a combined group, including provisions for net operating loss carryovers and tax credits. The bill also outlines rules for deferred intercompany transactions and the treatment of income from partnerships.