Question
State Modifications Could be plus or minus Federal Taxable Income* Apportionable (Business) Income Apply state's apportionment fraction = State Taxable Income Apply tax rates
State Modifications Could be plus or minus Federal Taxable Income* Apportionable (Business) Income Apply state's apportionment fraction = State Taxable Income Apply tax rates Subtract state tax credits = State tax liability Nonapportionable Income Allocate to the appropriate state
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Fundamental Financial Accounting Concepts
Authors: Thomas Edmonds, Christopher Edmonds
9th edition
978-0078025907
