Answered step by step
Verified Expert Solution
Link Copied!

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,

image text in transcribed

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

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

Financial Accounting

Authors: Pauline Weetman

8th Edition

129224447X, 9781292244471

More Books

Students also viewed these Accounting questions