48. Brady Corporation is a Nebraska corporation, but it owns business and investment property in surrounding states

Question:

48. Brady Corporation is a Nebraska corporation, but it owns business and investment property in surrounding states as well. Determine the state where each item of income is allocated.

a. $15,000 of dividend income.

b. $10,000 of interest income.

c. $15,000 of rental income for South Dakota property.

d. $20,000 of royalty income for intangibles used in South Dakota

(where income tax nexus exists).

e. $24,000 of royalty income from Kansas (where income tax nexus does not exist).

f. $15,000 of capital gain from securities held for investment.
g. $30,000 of capital gain on real property located in South Dakota.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Answer rating: 100% (QA)

Answered By

Atuga Nichasius

I am a Highly skilled Online Tutor has a Bachelor’s Degree in Engineering as well as seven years of experience tutoring students in high school, bachelors and post graduate levels. I have a solid understanding of all learning styles as well as using asynchronous online platforms for tutoring needs. I individualise tutoring for students according to content tutoring needs assessments. My strengths include good understanding of all teaching methods and learning styles and I am able to convey material to students in an easy to understand manner. I can also assists students with homework questions and test preparation strategies and I am able to help students in math, gre, business , and statistics I consider myself to have excellent interpersonal and assessment skills with strong teaching presentation verbal and written communication I love tutoring. I love doing it. I find it intrinsically satisfying to see the light come on in a student's eyes. My first math lesson that I taught was when I was 5. My neighbor, still in diapers, kept skipping 4 when counting from 1 to 10. I worked with him until he could get all 10 numbers in a row, and match them up with his fingers. My students drastically improve under my tutelage, generally seeing a two grade level improvement (F to C, C to A, for example), and all of them get a much clearer understanding! I am committed to helping my students get the top grades no matter the cost. I will take extra hours with you, repeat myself a thousand times if I have to and guide you to the best of my ability until you understand the concept that I'm teaching you.

5.00+ 2+ Reviews 10+ Question Solved

Related Book For book-img-for-question