Happy Hippos (HH) is a manufacturer and retailer of New England crafts headquartered in Camden, Maine....
Fantastic news! We've Found the answer you've been seeking!
Question:
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/05/665852466d9c8_2626658524666a61.jpg)
Transcribed Image Text:
Happy Hippos (HH) is a manufacturer and retailer of New England crafts headquartered in Camden, Maine. HH provides services and has sales, employees, property, and commercial domicile as follows: Sales Happy Hippos In-State Activities Employees Property Services Commercial Domicile State Connecticut Maine Massachusetts New York Rhode Island Vermont HH's sales of goods and services by state are as follows: State Connecticut Massachusetts Happy Hippos Sales Goods $ 78,231 292,813 90,238 Services Total $ 52,321 81,313 $ 130,552 HH's payroll is as follows: Payroll State Connecticut Maine Massachusetts Rhode Island Vermont Total HH's property is as follows: Wages $ 94,231 392,195 167,265 92,391 193,923 $ 940,005 State Maine Vermont Total Property Beginning $ 938,234 329,134 $ 1,267,368 Ending $ 937,652 428,142 $ 1,365,794 Rented $ 12,000 $ 12,000 a. Determine the states in which HH has sales tax nexus, assuming these states have passed Wayfair legislation.. (Select all that apply.) Maine New York Rhode Island Vermont Totals 129,322 98,313 123,914 $ 812,831 23,942 $ 157,576 374,126 90,238 129,322 98,313 147,856 $ 970,407 HH has federal taxable income of $282,487 for the current year. Included in federal taxable income are the following income and deductions: $12,000 of Vermont rental income. City of Orono, Maine, bond interest of $10,000. $10,000 of dividends. $2,498 of state tax refund included in income. $32,084 of state net income tax expense. $59,234 of federal depreciation. Other relevant facts include: Assume that the New York sales are to a single customer who is a retailer and can provide a valid New York reseller's certificate. Maine state depreciation for the year was $47,923, and Maine doesn't allow deductions for state income taxes. The employees present in Connecticut, Massachusetts, and Rhode Island are salespeople who perform only activities protected by Public Law 86-272. Assume that each of the states is a separate-return state. Check All That Apply Connecticut Maine Massachusetts New York Rhode Island Vermont Happy Hippos (HH) is a manufacturer and retailer of New England crafts headquartered in Camden, Maine. HH provides services and has sales, employees, property, and commercial domicile as follows: Sales Happy Hippos In-State Activities Employees Property Services Commercial Domicile State Connecticut Maine Massachusetts New York Rhode Island Vermont HH's sales of goods and services by state are as follows: State Connecticut Massachusetts Happy Hippos Sales Goods $ 78,231 292,813 90,238 Services Total $ 52,321 81,313 $ 130,552 HH's payroll is as follows: Payroll State Connecticut Maine Massachusetts Rhode Island Vermont Total HH's property is as follows: Wages $ 94,231 392,195 167,265 92,391 193,923 $ 940,005 State Maine Vermont Total Property Beginning $ 938,234 329,134 $ 1,267,368 Ending $ 937,652 428,142 $ 1,365,794 Rented $ 12,000 $ 12,000 a. Determine the states in which HH has sales tax nexus, assuming these states have passed Wayfair legislation.. (Select all that apply.) Maine New York Rhode Island Vermont Totals 129,322 98,313 123,914 $ 812,831 23,942 $ 157,576 374,126 90,238 129,322 98,313 147,856 $ 970,407 HH has federal taxable income of $282,487 for the current year. Included in federal taxable income are the following income and deductions: $12,000 of Vermont rental income. City of Orono, Maine, bond interest of $10,000. $10,000 of dividends. $2,498 of state tax refund included in income. $32,084 of state net income tax expense. $59,234 of federal depreciation. Other relevant facts include: Assume that the New York sales are to a single customer who is a retailer and can provide a valid New York reseller's certificate. Maine state depreciation for the year was $47,923, and Maine doesn't allow deductions for state income taxes. The employees present in Connecticut, Massachusetts, and Rhode Island are salespeople who perform only activities protected by Public Law 86-272. Assume that each of the states is a separate-return state. Check All That Apply Connecticut Maine Massachusetts New York Rhode Island Vermont
Expert Answer:
Posted Date:
Students also viewed these accounting questions
-
The city of New Orleans is located at latitude 30oN. Use Figure 9 to find a function that models the number of hours of daylight at New Orleans as a function of the time of year. Use the fact that on...
-
What is a click-through rate, and how is it calculated?
-
The following data are accumulated by Eco-Labs, Inc. in evaluating two competing capital investment proposals: Determine the expected average rate of return for each proposal. Round to one...
-
Consider a ten - node network in which the costs of connection are as given. Formulate the linear programming model that can be used to determine the network configuration that minimizes the total...
-
A storeroom is used to organize items stored in it on N shelves. Shelves are numbered from 0 to N-1. The K-th shelf is dedicated to items of only one type, denoted by a positive integer A[K]....
-
- @ Explain what is meant by decomudution. find the inverse filter of the filters belows and state whether the filter is stable or not. (i) w(t) = (wo, w) = (1, 2) (12) witt) = (w,, w) = (2, 1)...
-
The following accounts appear in the ledger of Sheridan Ltd. after the books are closed at December 31 ( in thousands). Share Capital-Ordinary, no par, 1 stated value, 400,000 shares authorized;...
-
1. Let f(x) 223-9x2. (a) Find all critical points for f(x).
-
Sadie's ski shop sells ski and boots. Skis are sold for $300 per pair and have associated Variable Costs of $150 per pair. Boots are sold for $200 per pair with an associated Variable Expense of $65...
-
How do you apply what is learned in the Science of Branding 1 5 - 1 , Key Insights Regarding Global Brand Strategies Based on Research Findings to improve on the brand?
-
CASH MANAGEMENT Dr. Umburgh noticed that the $100.00 check made to Trenton Medical Supplies has not cleared for four months. What type of check is the outstanding check referred to as? a. Stale-dated...
-
SUBSTANCE CONDUCTS DOES NOT CONDUCT Salt Sugar Baking Soda Baking Powder NutraSweet Kool-Aid Margarine Food Coloring
-
What is the distinction between a return of capital and a return on capital? LO.1
-
Will the NPV amount determined in the capital budgeting process be the same amount as that which actually occurs after a project is undertaken? Why or why not? LO.1
-
What is measured by the internal rate of return? When is a project consid ered acceptable using this method? LO.1
![Mobile App Logo](https://dsd5zvtm8ll6.cloudfront.net/includes/images/mobile/finalLogo.png)
Study smarter with the SolutionInn App