Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

LeMond Incorporated, a Wisconsin corporation, runs bicycle tours in several states. LeMond also has a Wisconsin retail store and an Internet store that ships to

LeMond Incorporated, a Wisconsin corporation, runs bicycle tours in several states. LeMond also has a Wisconsin retail store and an Internet store that ships to out-of-state customers. The bicycle tours operate in Colorado, North Carolina, and Wisconsin where Armstrong has employees and owns and uses tangible personal property. Armstrong has real property only in Wisconsin and logs the following sales:
State Goods Services Total
Arizona $36,170036,170
California 114,2600114260
Colorado 27,737362012389749
North Carolina 18145228272246418
Oregon 16666016666
Wisconsin 2455548834831129037
Totals 45853314737671932300
Assume the following tax rates: Arizona (5.6 percent), California (7.75 percent), Colorado (8 percent), North Carolina (6.75 percent), Oregon (8 percent), and Wisconsin (5 percent). How much sales TAX MUST lEmOND COLLECT AND REMIT, ASSUMING THESE STATES, EXCEPT cALIFORNIA HAVE ADOPTED wAYFAIR LEGISLATION?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Smith and Roberson Business Law

Authors: Richard A. Mann, Barry S. Roberts

15th Edition

1285141903, 1285141903, 9781285141909, 978-0538473637

Students also viewed these Accounting questions