Given the following facts, what is the state apportionment factor if sales are triple weighted: instate everywhere sales 13 100 property 19 100 payroll 8 100 A. .1325 B. .1300 C. .1333 D. .1320 As discussed in class, which of the following of corporate state tax filing methods is valid? A. Consolidated B. Separate Entity C. Combined D. All of the above E. A and B only Allocated income to a state is taxed at the same rate as apportioned income to a state. True False As discussed in class, trailing nexus can require tax filing even a corporation is without an instate physical presence like inventory or payroll and only has sales into the jurisdiction at issue. True False
Given the following facts, what is the state apportionment factor if sales are triple weighted: instate everywhere sales 13 100 property 19 100 payroll 8 100 A. .1325 B. .1300 C. .1333 D. .1320 As discussed in class, which of the following of corporate state tax filing methods is valid? A. Consolidated B. Separate Entity C. Combined D. All of the above E. A and B only Allocated income to a state is taxed at the same rate as apportioned income to a state. True False As discussed in class, trailing nexus can require tax filing even a corporation is without an instate physical presence like inventory or payroll and only has sales into the jurisdiction at issue. True False
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Given the following facts, what is the state apportionment factor if sales are triple weighted:
| instate | everywhere | |
| sales | 13 | 100 |
| property | 19 | 100 |
| payroll | 8 | 100 |
| A. |
.1325 |
|
| B. |
.1300 |
|
| C. |
.1333 |
|
| D. |
.1320 |
As discussed in class, which of the following of corporate state tax filing methods is valid?
| A. |
Consolidated |
|
| B. |
Separate Entity |
|
| C. |
Combined |
|
| D. |
All of the above |
|
| E. |
A and B only |
Allocated income to a state is taxed at the same rate as apportioned income to a state.
True
False
As discussed in class, trailing nexus can require tax filing even a corporation is without an instate physical presence like inventory or payroll and only has sales into the jurisdiction at issue.
True
False
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