Sandco Industries, Inc. does business in Florida. It also has a wholly owned subsidiary in Maryland named Brandco Industries, Inc. Excluding the amounts from the K-1 from BJS, LLC, Sandco Industries, Inc. had taxable income of $500,000 in the current tax year. Brandco Industries, Inc. had taxable income of $150,000 for [the current tax year].

The following is the breakdown of sales, property, and payroll:

	Sandco Industries, Inc.	Brandco Industries, Inc.
Sales	$2,500,000	$3,000,000
Property	1,000,000	2,000,000
Payroll	800,000	1,000,000

Assume the following tax rates: FL = 15% MD = 10% TX = 6 %