a.

What are the factors (financial amounts) that are used in apportionment calculations?

Cost of property, payroll, sales receipts (3x)

Book value of property, payroll, sales receipts (3x)

Cost of property, purchases, sales receipts (3x)

Cost of property, payroll, purchases

b. Which of the following items would be considered business earnings?

Sales in the ordinary course of business

Investment income

Sale of a used piece of equipment by a manufacturer

Unrealized gains on investments

c. What are the recent changes by the Supreme Court in the Wayfair case to collection and payment of sales taxes by states on purchases from out of state?

Required all eBay and similar sellers to collect and remit sales taxes

Allowed states to charge higher rates for out of state purchases

Superseded the physical presence requirement (Nexus) that allowed states to require vendors to collect & remit sales tax to the appropriate jurisdiction

Eliminates states ability to require out of state vendors to collect & remit sales taxes