(a) Filing consolidated returns may be permitted or required in accordance with regulations prescribed by the Tax Commissioner.
(b) In the case of a corporation that carried on transactions with its stockholders or with other corporations related by stock ownership, interlocking directorates or some other method, or in case any person operated a division, branch, factory, office, laboratory or activity within the City constituting a portion only of its total business, the Tax Commissioner shall require such additional information as he or she may deem necessary to ascertain whether net profits are properly allocated to the City of Kent. If the Tax Commissioner finds net profits are not properly allocated to the City by reason of transactions with stock-holders or with other corporations related by stock ownership, interlocking directorates or transactions with such division, branch, factory, office, laboratory or activity or by some other method, he or she shall make such allocation as he or she deems appropriate to produce a fair and proper allocation of net profits to the City.
(Ord. 1969-133. Passed 11-21-69.)