Sharon Inc. is headquartered in State X and owns 100 percent of Carol, Josey, and Janice Corps, 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

$

1,000

$

200

$

300

$

500

Business income

$

50,000

$

30,000

$

10,000

$

10,000

Sales:

State X

$

70,000

$

10,000

$

10,000

$

10,000

State Y

$

40,000

$

5,000

State Z

$

20,000

$

20,000

$

10,000

State A

$

20,000

State B

$

10,000

$

10,000

Property:

State X

$

50,000

$

20,000

$

10,000

State Y

$

80,000

State Z

$

25,000

$

20,000

State A

$

50,000

Payroll:

State X

$

10,000

$

10,000

State Y

$

40,000

State Z

$

3,000

$

10,000

State A

$

10,000

Compute the following for State X assuming a tax rate of 15 percent. (Use an equally weighted three-factor apportionment. Do not round intermediate calculations. Round 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.

Apportionment factor	State X
Sharon
Carol
Josey
Janice

b. Calculate the business income apportioned to State X.

	State X
Busniess Income

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

State taxable income reported	State X
Sharon
Carol
Josey
Janice

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

	State X
Tax liability