# Water's-edge election

> Water's-edge election — An election by a unitary group filing a combined state return to leave most foreign affiliates out of the combined report — in California a binding contract for 84 months.

Source: https://lopifi.com/glossary/water-s-edge-election
Part of: Lopifi — US GAAP books on autopilot, reviewed by a CPA (https://lopifi.com)

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**What is water's-edge election?** In accounting, water's-edge election means an election by a unitary group filing a combined state return to leave most foreign affiliates out of the combined report — in California a binding contract for 84 months.

## Words this system refuses for it

- worldwide combined report

- **Category:** Multi-entity
- **Specified in:** [Lexicon](https://lopifi.com/md/docs/domain/11-lexicon)