Neural activity is often analyzed with respect to external referents, such as the onset of a sensory stimulus or an overt motor action. Simultaneous recordings allow referencing neurons’ activity to each other and thus detecting signals that are internal to the organism. Further, multi-region simultaneous recordings allow observing how these internal signals are coordinated across the brain. Following this logic in rats performing a perceptual decision-making task, we recorded simultaneously from thousands of neurons across up to 20 brain regions at once. Here we report two internal signals which we found to profoundly shape decision-related neural dynamics and brain states. First, we decoded the continuously evolving decision state separately from each region, and found surprisingly large magnitude co-fluctuations in these measures. Dimensionality analysis showed these to be dominated by a single state variable, suggesting that only a single decision-making computation, not multiple parallel computations, are being carried out during the analyzed period. Second, we found that the precise time the subject commits to a decision – a covert event that we decoded from large-scale neural activity in primary motor cortex – was accompanied by a coordinated change, across the brain, from a decision formation to a post-commitment state. The two states differ substantially in their choice-predictive neural dynamics and in their inter-region correlations. Therefore, knowing the time of this state change on single trials is needed to correctly parse fundamentally different phases of decision-making. Overall, our data suggest that internally-referenced signals and state changes, not timelocked to external events but detectable through simultaneous recordings, are major features of neural activity during cognition.