Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

. Part I. Short Answer Questions Dragons, Inc. (referred to herein as Dragons, or the Corporation Facts: Manufactures and sells dishwashers and other kitchen appliances

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
. Part I. Short Answer Questions Dragons, Inc. (referred to herein as Dragons," or the "Corporation Facts: Manufactures and sells dishwashers and other kitchen appliances to retail customers. Company also installs and repairs kitchen appliances Corporate headquarters is in Philadelphia, Pennsylvania Manufacturing facilities are located in Massachusetts, Pennsylvania, and Texas. Sales o Mees are located throughout the US in the states of Massachusetts, Maryland, New Jersey, Ohio, Pennsylvania, Texas, and Wisconsin Dragons maintains inventory in several public warehouses ("3PLS." or "third-party logistics providers") located in geographic areas where market concentration is greatest Sells product to customers in all 50 states. Company employees (ie, sales representatives) visit customers throughout the U.S. Product is generally shipped from the 3 manufacturing facilities directly to customers via common carrier, as well as, from its 3PL facilities. All sales orders are sent to corporate headquarters (Pennsylvania) for approval or rejection Damaged or defective products are picked up by the company and returned to one of the three manufacturing facilities. . . Questions: A) Based on the facts presented above, where do you think Dragons, Inc. would have substantial nexus for corporate income tax purposes? Explain. B) What additional information would you need to determine if Dragons, Inc. has taxable nexus in other states in addition to those in your answer to Question (A), above? C) Would making repairs or providing on-site maintenance to the dishwashers be protected under P.L. 86-272? Why? Does it matter if these are infrequent and irregular activities - occurring once or twice a year? Explain. D) Would your answer to (C), above, differ if Dragons, Inc used third-party independent contractors to perform these services instead of employees? Why? E) What is a factor presence nexus standard (bright-line nexus)? Does P.L. 86-272 still apply in a state which has adopted factor presence nexus for income tax? Part II - Short Answer Questions: Dragons, Inc. (referred to herein as "Dragons," or the "Corporation) Facts: . Manufactures and sells dishwashers and other kitchen appliances to retail customers. Company also installs and repairs kitchen appliances. Corporate headquarters is in Philadelphia, Pennsylvania. Manufacturing facilities are located in Massachusetts, Pennsylvania, and Texas. Sales offices are located throughout the US in the states of Massachusetts, Maryland, New Jersey, Ohio, Pennsylvania, Texas, and Wisconsin. Dragons maintains inventory in several public warehouses (*3PLs," or "third-party logistics providers") located in geographic areas where market concentration is greatest Sells product to customers in all 50 states. Company employees (ie, sales representatives) visit customers throughout the U.S. Product is generally shipped from the 3 manufacturing facilities directly to customers via common carrier, as well as, from its 3PL facilities. All sales orders are sent to corporate headquarters (Pennsylvania) for approval or rejection Damaged or defective products are picked up by the company and returned to one of the three manufacturing facilities. Questions: A) Based on the facts presented above, where do you think Dragons, Inc. would have substantial nexus for corporate income tax purposes? Explain. . . B) What additional information would you need to determine if Dragons, Inc. has taxable nexus in other states (in addition to those in your answer to Question (A), above? C) Would making repairs or providing on-site maintenance to the dishwashers be protected under P.L. 86-272? Why? Does it matter if these are infrequent and irregular activities - occurring once or twice a year? Explain. D) Would your answer to (C), above, differ if Dragons, Inc. used third-party independent contractors to perform these services instead of employees? Why? E) What is a factor presence nexus standard (bright-line nexus)? Does P.L. 86-272 still apply in a state which has adopted factor presence nexus for income tax? Part II - Short-Answer Questions: Dragons, Inc. (referred to herein as "Dragons," or the "Corporation") Facts: . Manufactures and sells dishwashers and other kitchen appliances to retail customers. Company also installs and repairs kitchen appliances Corporate headquarters is in Philadelphia, Pennsylvania. Manufacturing facilities are located in Massachusetts, Pennsylvania, and Texas. Sales offices are located throughout the US in the states of Massachusetts, Maryland, New Jersey, Ohio, Pennsylvania, Texas, and Wisconsin. Dragons maintains inventory in several public warehouses ("3PLs," or "third-party logistics providers") located in geographic areas where market concentration is greatest. Sells product to customers in all 50 states. Company employees (i.e., sales representatives) visit customers throughout the U.S. Product is generally shipped from the 3 manufacturing facilities directly to customers via common carrier, as well as, from its 3PL facilities. All sales orders are sent to corporate headquarters (Pennsylvania) for approval or rejection Damaged or defective products are picked up by the company and returned to one of the three manufacturing facilities. . . Questions: A) Based on the facts presented above, where do you think Dragons, Inc. would have substantial nexus for corporate income tax purposes? Explain. B) What additional information would you need to determine if Dragons, Inc. has taxable nexus in other states (in addition to those in your answer to Question (A), above? other kitchen ap . Company also installs and repairs kitchen appliances Corporate headquarters is in Philadelphia, Pennsylvania. Manufacturing facilities are located in Massachusetts, Pennsylvania, and Texas. Sales offices are located throughout the US in the states of Massachusetts, Maryland, New Jersey, Ohio, Pennsylvania, Texas, and Wisconsin. Dragons maintains inventory in several public warehouses ("3Pls." or "third-party logistics providers") located in geographic areas where market concentration is Sells product to customers in all 50 states. Company employees (.e., sales representatives) visit customers throughout the U.S. Product is generally shipped from the 3 manufacturing facilities directly to customers via common carrier as well as, from its 3PL facilities. All sales orders are sent to corporate headquarters (Pennsylvania) for approval or rejection Damaged or defective products are picked up by the company and returned to one of the three manufacturing facilities. Questions: A) Based on the facts presented above, where do you think Dragons, Inc. would have substantial nexus for corporate income tax purposes? Explain. B) What additional information would you need to determine if Dragons, Inc. has taxable nexus in other states (in addition to those in your answer to Question (A), above? C) Would making repairs or providing on-site maintenance to the dishwashers be protected under P.L. 86-272? Why? Does it matter if these are infrequent and irregular activities - occurring once or twice a year? Explain. D) Would your answer to (C), above, differ if Dragons, Inc. used third-party independent contractors to perform these services instead of employees? Why? E) What is a factor presence nexus standard (bright-line nexus)? Does P.L. 86-272 still apply in a state which has adopted factor presence nexus for income tax? . Part I. Short Answer Questions Dragons, Inc. (referred to herein as Dragons," or the "Corporation Facts: Manufactures and sells dishwashers and other kitchen appliances to retail customers. Company also installs and repairs kitchen appliances Corporate headquarters is in Philadelphia, Pennsylvania Manufacturing facilities are located in Massachusetts, Pennsylvania, and Texas. Sales o Mees are located throughout the US in the states of Massachusetts, Maryland, New Jersey, Ohio, Pennsylvania, Texas, and Wisconsin Dragons maintains inventory in several public warehouses ("3PLS." or "third-party logistics providers") located in geographic areas where market concentration is greatest Sells product to customers in all 50 states. Company employees (ie, sales representatives) visit customers throughout the U.S. Product is generally shipped from the 3 manufacturing facilities directly to customers via common carrier, as well as, from its 3PL facilities. All sales orders are sent to corporate headquarters (Pennsylvania) for approval or rejection Damaged or defective products are picked up by the company and returned to one of the three manufacturing facilities. . . Questions: A) Based on the facts presented above, where do you think Dragons, Inc. would have substantial nexus for corporate income tax purposes? Explain. B) What additional information would you need to determine if Dragons, Inc. has taxable nexus in other states in addition to those in your answer to Question (A), above? C) Would making repairs or providing on-site maintenance to the dishwashers be protected under P.L. 86-272? Why? Does it matter if these are infrequent and irregular activities - occurring once or twice a year? Explain. D) Would your answer to (C), above, differ if Dragons, Inc used third-party independent contractors to perform these services instead of employees? Why? E) What is a factor presence nexus standard (bright-line nexus)? Does P.L. 86-272 still apply in a state which has adopted factor presence nexus for income tax? Part II - Short Answer Questions: Dragons, Inc. (referred to herein as "Dragons," or the "Corporation) Facts: . Manufactures and sells dishwashers and other kitchen appliances to retail customers. Company also installs and repairs kitchen appliances. Corporate headquarters is in Philadelphia, Pennsylvania. Manufacturing facilities are located in Massachusetts, Pennsylvania, and Texas. Sales offices are located throughout the US in the states of Massachusetts, Maryland, New Jersey, Ohio, Pennsylvania, Texas, and Wisconsin. Dragons maintains inventory in several public warehouses (*3PLs," or "third-party logistics providers") located in geographic areas where market concentration is greatest Sells product to customers in all 50 states. Company employees (ie, sales representatives) visit customers throughout the U.S. Product is generally shipped from the 3 manufacturing facilities directly to customers via common carrier, as well as, from its 3PL facilities. All sales orders are sent to corporate headquarters (Pennsylvania) for approval or rejection Damaged or defective products are picked up by the company and returned to one of the three manufacturing facilities. Questions: A) Based on the facts presented above, where do you think Dragons, Inc. would have substantial nexus for corporate income tax purposes? Explain. . . B) What additional information would you need to determine if Dragons, Inc. has taxable nexus in other states (in addition to those in your answer to Question (A), above? C) Would making repairs or providing on-site maintenance to the dishwashers be protected under P.L. 86-272? Why? Does it matter if these are infrequent and irregular activities - occurring once or twice a year? Explain. D) Would your answer to (C), above, differ if Dragons, Inc. used third-party independent contractors to perform these services instead of employees? Why? E) What is a factor presence nexus standard (bright-line nexus)? Does P.L. 86-272 still apply in a state which has adopted factor presence nexus for income tax? Part II - Short-Answer Questions: Dragons, Inc. (referred to herein as "Dragons," or the "Corporation") Facts: . Manufactures and sells dishwashers and other kitchen appliances to retail customers. Company also installs and repairs kitchen appliances Corporate headquarters is in Philadelphia, Pennsylvania. Manufacturing facilities are located in Massachusetts, Pennsylvania, and Texas. Sales offices are located throughout the US in the states of Massachusetts, Maryland, New Jersey, Ohio, Pennsylvania, Texas, and Wisconsin. Dragons maintains inventory in several public warehouses ("3PLs," or "third-party logistics providers") located in geographic areas where market concentration is greatest. Sells product to customers in all 50 states. Company employees (i.e., sales representatives) visit customers throughout the U.S. Product is generally shipped from the 3 manufacturing facilities directly to customers via common carrier, as well as, from its 3PL facilities. All sales orders are sent to corporate headquarters (Pennsylvania) for approval or rejection Damaged or defective products are picked up by the company and returned to one of the three manufacturing facilities. . . Questions: A) Based on the facts presented above, where do you think Dragons, Inc. would have substantial nexus for corporate income tax purposes? Explain. B) What additional information would you need to determine if Dragons, Inc. has taxable nexus in other states (in addition to those in your answer to Question (A), above? other kitchen ap . Company also installs and repairs kitchen appliances Corporate headquarters is in Philadelphia, Pennsylvania. Manufacturing facilities are located in Massachusetts, Pennsylvania, and Texas. Sales offices are located throughout the US in the states of Massachusetts, Maryland, New Jersey, Ohio, Pennsylvania, Texas, and Wisconsin. Dragons maintains inventory in several public warehouses ("3Pls." or "third-party logistics providers") located in geographic areas where market concentration is Sells product to customers in all 50 states. Company employees (.e., sales representatives) visit customers throughout the U.S. Product is generally shipped from the 3 manufacturing facilities directly to customers via common carrier as well as, from its 3PL facilities. All sales orders are sent to corporate headquarters (Pennsylvania) for approval or rejection Damaged or defective products are picked up by the company and returned to one of the three manufacturing facilities. Questions: A) Based on the facts presented above, where do you think Dragons, Inc. would have substantial nexus for corporate income tax purposes? Explain. B) What additional information would you need to determine if Dragons, Inc. has taxable nexus in other states (in addition to those in your answer to Question (A), above? C) Would making repairs or providing on-site maintenance to the dishwashers be protected under P.L. 86-272? Why? Does it matter if these are infrequent and irregular activities - occurring once or twice a year? Explain. D) Would your answer to (C), above, differ if Dragons, Inc. used third-party independent contractors to perform these services instead of employees? Why? E) What is a factor presence nexus standard (bright-line nexus)? Does P.L. 86-272 still apply in a state which has adopted factor presence nexus for income tax

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

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

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

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

Competitor Analysis In Financial Services

Authors: Ian Youngman

1st Edition

1855733315,1782420053

More Books

Students also viewed these Finance questions

Question

What is the purpose of a firewall?

Answered: 1 week ago

Question

What is the difference between a CPU and a GPU?

Answered: 1 week ago

Question

What are the various principles of material handling ?

Answered: 1 week ago