Bad Brad sells used semi-trucks and tractor trailers in the Texas panhandle. Bad Brad has sales as follows:  Bad Brad State Sales Colorado $234,992   Oklahoma 402,450   New Mexico 675,204   Texas 1,085,249   Total $2,397,895     Bad Brad is a Texas corporation. Answer the questions in each of the following alternative scenarios. (Round your answers to 2 decimal places.) c. Bad Brad has income tax nexus in Colorado and Texas. Oklahoma and New Mexico sales are shipped from Texas (a throwback state); $200,000 of Oklahoma sales were to the federal government. What are the Colorado and Texas sales apportionment factors?           Colorado sales factor             %   Texas sales factor             %

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Bad Brad sells used semi-trucks and tractor trailers in the Texas panhandle. Bad Brad has sales as follows:
 

Bad Brad
State Sales
Colorado $234,992  
Oklahoma 402,450  
New Mexico 675,204  
Texas 1,085,249  
Total $2,397,895  

 


Bad Brad is a Texas corporation. Answer the questions in each of the following alternative scenarios. (Round your answers to 2 decimal places.)

c. Bad Brad has income tax nexus in Colorado and Texas. Oklahoma and New Mexico sales are shipped from Texas (a throwback state); $200,000 of Oklahoma sales were to the federal government. What are the Colorado and Texas sales apportionment factors?

 
 
     
Colorado sales factor             %  
Texas sales factor             %  
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