7090951-Solutions - CHAPTER 23 MULTISTATE CORPORATE...

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CHAPTER 23 MULTISTATE CORPORATE TAXATION SOLUTIONS TO PROBLEM MATERIALS S t a t u s : Q / P Question/ Present in Prior Problem Topic Edition Edition 1 Issue ID New 2 Multistate tax incentives New 3 States’ jurisdiction to tax; nexus New 4 Immune sales under P.L. 86-272 Unchanged 4 5 P.L. 86-272 solicitation standards Unchanged 5 6 Apportionment and allocation of income Unchanged 6 7 Issue ID Unchanged 7 8 Sales factor Unchanged 8 9 Throwback rule for sales factor Unchanged 9 10 Unitary theory Unchanged 10 11 Sales taxes and corporate restructurings Unchanged 11 12 Planning with nexus rules Unchanged 12 13 Multistate tax planning Unchanged 13 14 Addition and subtraction modifications Unchanged 14 15 Addition and subtraction modifications Modified 15 16 Addition and subtraction modifications Modified 16 17 Apportionment formulas Unchanged 17 18 Apportionment formulas Unchanged 18 19 Apportionment formulas Unchanged 19 20 Apportionment formulas Modified 20 21 Throwback rule Unchanged 21 22 Payroll factor Unchanged 22 23 Property factor Unchanged 23 24 Property factor Unchanged 24 25 Property factor Unchanged 25 26
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23-2 2004 Comprehensive Volume/Solutions Manual S t a t u s : Q / P Question/ Present in Prior Problem Topic Edition Edition 28 Multistate S corporations, apportionment formula Unchanged 28
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Multistate Corporate Taxation 23-3 CHECK FIGURES 14.a. 14.d. 14.e. 14.f. 14.i. 14.j. 15. 16.a. 16.b. 16.c. 17. 18. 19. 20.a. 20.b. A; $10,000. S; $3,000. N. S; $5,000. N. Varies. $222,000. $1,360,000. $1,500,000. $1,543,000. 72.39%; 20.00%. A 80.0%; B 20.5% A 79.63%; B 23.50%. . $232,170. $215,790. 20.c. 21. 22. 23. 24. 25. 26.a 26.b 27. 28. 30. $166,680. A $213,000; B $263,000. E 73.68%; F 26.32%. A 63.01%; B 36.99%. B 34.70%. Annual method, 38.6% property factor. $49,648. $110,000. B 40.00%; Q 77.78%. $0 Y; $173,167 Z. Factor drops to 69.7%.
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23-4 2004 Comprehensive Volume/Solutions Manual DISCUSSION QUESTIONS 1. Nontax factors dominate most business relocation decisions. However, a combination of some of the following incentives might also force the consideration of a tax-motivated expansion or relocation. Economic development incentives. Sales and use tax exemptions reducing a customer’s acquisition price. Use of technology to transfer sales and purchase orders, pricing information, and other data. Ease in complying with multiple jurisdictions’ tax rules. “Exporting” of local taxes to visitors and outsiders. Sophistication and effort of jurisdictional enforcement measures. pp. 23-2 and 23-3
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7090951-Solutions - CHAPTER 23 MULTISTATE CORPORATE...

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