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Sharon Inc. is headquartered in State X and owns 100 percent of Carol Corp., Josey Corp., and Janice Corp., which form a single unitary group.

Sharon Inc. is headquartered in State X and owns 100 percent of Carol Corp., Josey Corp., and Janice Corp., which form a single unitary group. Assume sales operations are within the solicitation bounds of Public Law 86-272. Each of the corporations has operations in the following states:

Domicile State Sharon Inc. State X (throwback) Carol Corp. State Y (throwback) Josey Corp. State Z (nonthrowback) Janice Corp. State Z (nonthrowback)
Dividend income $ 1,700 $ 475 $ 385 $ 660
Business income 58,200 34,250 17,800 17,300
Sales: State X 76,000 19,000 17,900 15,400
State Y 48,250 8,000
State Z 26,800 35,750 10,100
State A 19,500
State B 16,800 19,500
Property: State X 74,250 22,400 18,200
State Y 87,750
State Z 42,750 38,250
State A 52,250
Payroll: State X 16,600 12,600
State Y 41,000
State Z 6,000 10,700
State A 18,500

Compute the following for State X assuming a tax rate of 15 percent. (Use an equally weighted three-factor apportionment. Round all apportionment factors to 4 decimal places. Round other answers to the nearest whole dollar amount. Leave no answer blank. Enter zero if applicable.)

A) Calculate the State X apportionment factor for Sharon Inc., Carol Corp., Josey Corp., and Janice Corp. b)Calculate the business income apportioned to State X.

c)Calculate the taxable income for State X for each company.

d)Determine the tax liability for State X for the entire group.

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