Question
- Our company (Aztecs Inc) operates in two states California and Texas. Our apportionable income for the year it is$860,000. In addition, we only have
- Our company (Aztecs Inc) operates in two states California and Texas. Our apportionable income for the year it is$860,000. In addition, we only have a physical presence in California. As a result we don't believe we have nexus in Texas. While we do not have a physical presence in Texas we do have$70,000of payroll stemming from there. Our internal accountants were able to calculate each factor but we are unsure of how to determine our SALT apportionment from here. We were wondering if you would be able to explain the process as well as calculate this for us?
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Financial Accounting
Authors: Warren, Reeve, Duchac
12th Edition
1133952410, 9781133952411, 978-1133952428
