Question
Say there is a state bill for state Pink that imposes tax for out of state corporations having presence in state Pink. Company X is
We find out company X does not have physical presence in state pink but under the Wayfair case, X Corporation has " presence" because they made 2.5 mill in sales tax in state pink. In the Wayfair case, if you make 100k or more in sales tax you have presence in the state. I assume they have presence because they also earned income within state pink.
In the bill this is written: All companies in State Pink, All companies outside of state pink that has physical presence in state pink or who earn income within state pink are subject to a tax.
------------------------------------------------------------------------
In the bill it also includes:
" Companies meeting these criteria are subject to tax for the next 8 years. "
-------------------------------------------------------------------------------- Question:
According to, " Companies meeting these criteria are subject to tax for the next 8 years. ", will company x have to be subject to this tax for 8 years if they meet the criteria? ( According to my notes I think they meet the criteria) And can you explain why they will have to pay the tax for 8 years or why they wont have to pay the tax for 8 year?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
According to the statement Companies meeting these criteria are subject to tax for the next 8 ...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