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6. Brady Corporation is a Nebraska Corporation, but owns business and investment property in surrounding states as well. What is the amount of nonbusiness income
6. Brady Corporation is a Nebraska Corporation, but owns business and investment property in surrounding states as well. What is the amount of nonbusiness income allocated to Nebraska?
- $17,000 of dividend income.
- $10,000 of interest income.
- $17,000 of rental income for South Dakota property.
- $20,000 of royalty income for an intangible used in South Dakota (where nexus exists).
- $24,000 of royalty income from Kansas (where nexus does not exist).
- $15,000 of capital gain from securities held for investment.
- $30,000 of capital gain on real property located in South Dakota
7.
Same facts as the prior questions, what is the amount of nonbusiness income allocated to South Dakota?
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