LeMond Incorporated, a Wisconsin corporation, runs bicycle tours in several states. LeMond also has a Wisconsin retail
Question:
LeMond Incorporated, a Wisconsin corporation, runs bicycle tours in several states. LeMond also has a Wisconsin retail store and an Internet storethat ships to out-of-state customers. The bicycle tours operate in Colorado, North Carolina, and Wisconsin where LeMond has employees and owns and uses tangible personal property. LeMond has real property only in Wisconsin and logs the following sales:
LeMondSales | |||
State | Goods | Services | Total |
Arizona | $34,194 | $0 | $34,194 |
California | 110,612 | 0 | 110,612 |
Colorado | 25,913 | 356,084 | 381,997 |
North Carolina | 16,721 | 225,327 | 242,048 |
Oregon | 15,431 | 0 | 15,431 |
Wisconsin | 241,982 | 877,441 | 1,119,423 |
Totals | $444,853 | $1,458,852 | $1,903,705 |
Assume the following tax rates: Arizona (5.6 percent), California (7.75 percent), Colorado (8 percent), North Carolina (6.75 percent), Oregon (8 percent), and Wisconsin (5 percent). How much sales tax must LeMond collect and remit?
Step by Step Answer:
Taxation Of Individuals And Business Entities 2019 Edition
ISBN: 9781259918391
10th Edition
Authors: Brian C. Spilker, Benjamin C. Ayers, John Robinson, Edmund Outslay, Ronald G. Worsham, John A. Barrick, Connie Weaver