1. Which of the following are true?

a. Credits are more valuable on federal returns than state tax returns

b. As a practical matter, credits and incentives are the same

c. Tax practitioners are usually fully versed in their own state's credits and incentives

d. None of the above

2. Assume you are advising a client on whether to operate in new states with multiple tax incentives. However, the client firm has never had any business connections to the states before.What are the tax tradeoffs of locating in the new states?