Answered: The 40% optional standard deduction…

The 40% optional standard deduction available to a domestic corporation is multiplied against the domestic corporation's gross sales or receipts. Group of answer choices True False

SWFT Comprehensive Volume 2019

42nd Edition

ISBN:9780357233306

Author:Maloney

Publisher:Maloney

Chapter24: Multistate Corporate Taxation

Section: Chapter Questions

Problem 26P

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se Print Item Exercise 16-5 (Algorithmic) (LO. 6) Beckett Corporation has nexus with States A and B. Apportionable income for the year totals $885,000. Beckett's apportionment factors the year use the following data. Compute Beckett's B taxable income for the year; B uses a three-factor apportionment formula with a double-weighted sales factor. State A State B Total Sales $1,062,000 $637,200 $1,699,200 Property $177,000 $0 $177,000 Payroll $265,500 $265,500 Do not round any division. Round your final answer to the nearest dollar. 69
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