Question
Could you answer this? Sharon Inc. is headquartered in State X and owns 100 percent of Carol, Josey, and Janice Corps. which form a single
Could you answer this? Sharon Inc. is headquartered in State X and owns 100 percent of Carol, Josey, and Janice Corps. which form a single unitary group. Assume sales operations are within the solicitation bounds of Public Law 86-272. Each of the corporations has operations in the following states: Domicile State Sharon Inc. State X (throwback) Carol Corp. State Y (throwback) Josey Corp. State Z (nonthrowback) Janice Corp. State Z (nonthrowback) Dividend income $ 1,000 $ 200 $ 300 $ 500 Business income $ 50,000 $ 30,000 $ 10,000 $ 10,000 Sales: State X $ 70,000 $ 10,000 $ 10,000 $ 10,000 State Y $ 40,000 $ 5,000 State Z $ 20,000 $ 20,000 $ 10,000 State A $ 20,000 State B $ 10,000 $ 10,000 Property: State X $ 50,000 $ 20,000 $ 10,000 State Y $ 80,000 State Z $ 25,000 $ 20,000 State A $ 50,000 Payroll: State X $ 10,000 $ 10,000 State Y $ 40,000 State Z $ 3,000 $ 10,000 State A $ 10,000 Compute the following for State X assuming a tax rate of 15 percent. (Use an equally weighted three-factor apportionment. Round all apportionment factors to 4 decimal places. Round other answers to the nearest whole dollar amount. Leave no answer blank. Enter zero if applicable.) [The following information applies to the questions displayed below.] a. Calculate the State X apportionment factor for Sharon Inc., Carol Corp., Josey Corp., and Janice Corp. The ones on here are wrong.
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