Consolidated group members each are jointly and severally liable for the entire consolidated income tax liability.

Question

Quizplus · Accepted Answer

This means that if one member of the group cannot pay their share of the tax liability, the other members are responsible for covering that amount. It is important for each member to understand the potential risks and liabilities associated with being part of a consolidated group.

Consolidated Group Members Each Are Jointly and Severally Liable for the Entire