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Utilize the State Apportionment resource to complete this part of the assignment. Compute XYZ's apportionment factors for all three states. For at least one of
Utilize the "State Apportionment" resource to complete this part of the assignment.
Compute XYZ's apportionment factors for all three states. For at least one of the states (not all three), prepare the apportionment form using the income tax return forms for the current tax year. For example, use Form 120 for Arizona, Form K-120 for Kansas, or Form 512 for Oklahoma. You are only required to complete the apportionment schedule, not the entire tax return. Assume XYZ generates $100,200,000 of total revenue.
State Apportionment Use this resource to complete the State Apportionment assignment in Topic 8. You will use the table below to complete Part 2 of the assignment. State departments of revenue are found at the following links Arizona: https:/lazdor.govl Kansas Oklahoma: /www.ksreven ue org/index html /www.ok.gov/tax/Forms & Publications/Forms/Income/ XYZ Corporation is not part of a consolidated group and is located at 3300 W. Camelback Road, Suite 135, Phoenix, AZ 85017. The business is incorporated in the State of Arizona, and business started 1/14/2010. Its EIN is 86-1234567 and the NAICS code is 332311 The following information is available regarding the activity in each state zona Kansas Oklahoma Propertv: In 7,000,000 8,000,000 20,000,000 21,000,000 5,000,000 5,000,000 (at cost), be at cost), end of 3,000,000 2,500,000 1,200,000 4,000,000 4,000,000 2,000,000 2,000,000 0. af 1,000,000 eciable assets, be eciable assets, end of year 500,000 900,000 af Land, be Land, end of Rented 300,000 Wages: sation for officers 4,000,000 22,400,000 Wages, sal and commissions 3.600,000 420,000 Sales: Sales of products, shipped from outside the 20,000,000 state Sales of products, shipped from inside the state Sales of products, shipped to the U.S 50,000,000 20,000,00010,000,000 200,000 Sales of services Portfolio income 12,000Step by Step Solution
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