25 Pages
ch23

Course: MBA acc, Fall 2013

School: SUNY Buffalo

Word Count: 6070

Rating:

# us in Arizona, California, Nevada, and Washington. The Washington drivers spend 25 percent of their time driving through Oregon. California payroll includes \$200,000 of payroll for services provided in Nevada by California based drivers. What is Rob's California sale numerator? A. \$934,589 B. \$1,134,589 C. \$1,215,347 D. \$2,657,275 86. Which of the following is not a general rule for calculating the property...

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in us Arizona, California, Nevada, and Washington. The Washington drivers spend 25 percent of their time driving through Oregon. California payroll includes \$200,000 of payroll for services provided in Nevada by California based drivers. What is Rob's California sale numerator? A. \$934,589 B. \$1,134,589 C. \$1,215,347 D. \$2,657,275 86. Which of the following is not a general rule for calculating the property factor? A. Uses the average property values for the year. B. Values property at historical cost. C. Excludes property in transit from the calculation. D. Includes rented property at eight times the annual rent. 87. Lefty provides demolition services in several southern states. Lefty has property as follows: Lefty is a Mississippi Corporation. Lefty also rents property in Mississippi and Tennesse e with annual rents of \$50,000 and \$15,000, respectively. What is Lefty's Mississippi property numerator? A. \$942,153 B. \$1,002,384 C. \$1,052,384 D. \$1,342,153 88. What was the Supreme Court's holding in Complete Auto Transit? A. An out-of-state mail-order company did not have a sales tax collection responsibility because it lacked physical presence. B Reaffirmed that an out-of-state business must have physical presence in the state before the state may . require the business to collect sales tax from in-state customers. C. Spelled out four criteria for determining whether states may subject nondomiciliary companies to an income tax. D. Defined solicitation for purposes of Public Law Carolina's 86-272. 89. Hats has the following sales, payroll and property factors: What is Carolina's Hats North and South Carolina apportionment factors if North Carolina uses an equally-weighted three-factor formula and South Carolina uses a double-weighted sales factor formula? A. North Carolina 74.03 percent, and South Carolina 19.45 percent. B. North Carolina 74.03 percent, and South Carolina 20.22 percent. C. North Carolina 74.28 percent, and South Carolina 19.45 percent. D. North Carolina 74.28 percent, and South Carolina 22.51 percent. 90. Which of the following is not a general rule for allocating nonbusiness income? A. Interest and dividends to the state of commercial domicile. B. Rental income for investment property to state of commercial domicile. C. Rental income for business property to state where property is located. D. Capital gains from rental property to state where property is located. 91. Della Corporation is headquartered in Carlisle, Pennsylvania. Della has a Pennsylvania state income tax base of \$425,000. Of this amount, \$75,000 was nonbusiness income. Della's Pennsylvania apportionment factor is 28.52 percent. The nonbusiness income allocated to Pennsylvania was \$61,000. Assuming a Pennsylvania corporate tax rate of 7.75 percent, what is Della's Pennsylvania state tax liability? A. \$8,821 B. \$9,084 C. \$12,464 D. \$13,549 92. Which of the following is not a nonincome based tax? A. Ohio Commercial Activity Tax. B. Texas Margin Tax. C. Washington Business

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SUNY Buffalo - MBA - acc
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SUNY Buffalo - MBA - acc
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