Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Philip, and subsequently Oasis Computer Corporation, employed a salesperson to sell computers in New York State. During the year, this salesperson solicited sales in NY,
Philip, and subsequently Oasis Computer Corporation, employed a salesperson to sell computers in New York State. During the year, this salesperson solicited sales in NY, delivered equipment from the Massachusetts office, and provided training to NY clients. 1. Do these activities generate NY nexus which would create a NY filing requirement? Why or why not? 2. Assume that a NY filing was required, compute the NY Franchise tax based on the following information. NY has a single factor apportionment formula during the year. (Hint- see final review module). NY receipts for the year: $ 200,000 Everywhere receipts: $1,000,000 Tax Rate 7.10% Your
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started