Section 15-31-321 - DefinitionsAs used in 15-31-321 through 15-31-326, unless the context requires otherwise, the following definitions apply:
(1) "Affiliated corporation" means a United States parent corporation and any subsidiary of which more than 50% of the voting stock is owned directly or indirectly by another corporate member of the water's-edge combined group.(2) "United States" means the 50 states of the United States, the District of Columbia, and any territory or possession of the United States.(3) "Water's-edge combined group" means all corporations or entities included in the election of a taxpayer under 15-31-322.Amended by Laws 2023, Ch. 750,Sec. 1, eff. 5/22/2023, and applicable retroactively, within the meaning of 1-2-109, to tax years beginning after December 31, 2022.En. Sec. 1, Ch. 616, L. 1987.