Comp SM_Ch24 - CHAPTER 24 MULTISTATE CORPORATE TAXATION...

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CHAPTER 24 MULTISTATE CORPORATE TAXATION SOLUTIONS TO PROBLEM MATERIALS Status: Q/P Question/ Present in Prior Problem Topic Edition Edition 1 Issue ID Unchanged 1 2 Multistate tax incentives Unchanged 2 3 States’ jurisdiction to tax; nexus Unchanged 3 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 State taxation of S corporations New 13 State S corporation compliance New 14 Out-of-state S shareholders New 15 Sales/use taxation of services New 16 Sales/use tax exemptions New 17 Planning with nexus rules Unchanged 12 18 Multistate tax planning Unchanged 13 19 Addition and subtraction modifications Unchanged 14 20 Addition and subtraction modifications Unchanged 15 21 Addition and subtraction modifications Unchanged 16 22 Apportionment formulas Unchanged 17 23 Apportionment formulas Unchanged 18 24 Apportionment formulas Unchanged 19 25 Apportionment formulas Unchanged 20 26 Throwback rule Unchanged 21 27 Payroll factor Unchanged 22 24-1
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24-2 2005 Comprehensive Volume/Solutions Manual Status: Q/P Question/ Present in Prior Problem Topic Edition Edition 28 Property factor Unchanged 23 29 Property factor Unchanged 24 30 Property factor Unchanged 25 31 Unitary business, apportionment factors Unchanged 26 32 Water’s edge election Unchanged 27 33 Multistate S corporations, apportionment formula Unchanged 28 34 Sales tax base Unchanged 29 35 Apportionment planning Unchanged 30 Research Problem 1 Internet activity Unchanged 2 Internet activity Unchanged 3 Internet activity New
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Multistate Corporate Taxation 24-3 CHECK FIGURES 19.a. 19.d. 19.e. 19.f. 19.i. 19.j. 20. 21.a. 21.b. 21.c. 22. 23. 24. 25.a. 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. 25.b. 25.c. 26. 27. 28. 29. 30. 31.a 31.b 32. 33. 35. $215,790. $166,680. E 73.68%; F 26.32%. G 21.05%; H 57.14%; I 36.84%. 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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24-4 2005 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
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This note was uploaded on 03/14/2010 for the course ACC 11101 taught by Professor Sun during the Spring '10 term at American Academy of Art.

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Comp SM_Ch24 - CHAPTER 24 MULTISTATE CORPORATE TAXATION...

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