Question
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%
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ISE Fundamental Managerial Accounting Concepts
Authors: Thomas P. Edmonds, Christopher Edmonds, Mark A. Edmonds, Philip R. Olds
10th Edition
1265045925, 9781265045920
