4. LO.6 Fillon operates manufacturing facilities in States A and B. Fillon has nexus with both states;
Question:
4. LO.6 Fillon operates manufacturing facilities in States A and B. Fillon has nexus with both states; apportionment factors are 0.70 for A and 0.30 for B. Taxable income for the year totaled $150,000, with a $200,000 A profit and a $50,000 B loss.
Calculate taxable income for the year for:
a. State A.
b. State B.
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Related Book For
Essentials Of Taxation Individuals And Business Entities
ISBN: 233160
1st Edition
Authors: Nellen/Young/Raabe/Maloney
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