**Calculate the State X apportionment factor for Sharon Inc.,**

$ 20.00

Sharon Inc. is headquartered in State X and owns 100 percent of Carol, Josey, and Janice Corps, which form a single unitary group. Assume sales operations are within the solicitation bounds of Public Law 86-272. Each of the corporations has operations in the following states: |

Domicile State | Sharon Inc. State X (throwback) |
Carol Corp State Y (throwback) |
Josey Corp State Z (nonthrowback) |
Janice Corp State Z (nonthrowback) |
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Dividend income | $ | 1,030 | $ | 560 | $ | 420 | $ | 400 |

Business income | $ | 40,000 | $ | 45,250 | $ | 16,400 | $ | 16,200 |

Sales: State X | $ | 83,200 | $ | 19,500 | $ | 11,900 | $ | 12,200 |

State Y | $ | 50,750 | $ | 9,350 | ||||

State Z | $ | 30,000 | $ | 39,000 | $ | 11,900 | ||

State A | $ | 34,000 | ||||||

State B | $ | 15,500 | $ | 11,500 | ||||

Property: State X | $ | 70,500 | $ | 27,400 | $ | 10,200 | ||

State Y | $ | 102,250 | ||||||

State Z | $ | 42,000 | $ | 30,500 | ||||

State A | $ | 69,500 | ||||||

Payroll: State X | $ | 17,600 | $ | 14,500 | ||||

State Y | $ | 63,250 | ||||||

State Z | $ | 5,100 | $ | 13,400 | ||||

State A | $ | 16,000 |

Compute the following for State X assuming a tax rate of 15 percent. (Be sure to use an equally weighted three-factor apportionment formula. Round your apportionment factors to 4 decimal places. Also round your apportioned business income and tax liability to the nearest dollar amount.) |

a. |
Calculate the State X apportionment factor for Sharon Inc., Carol Corp., Josey Corp., and Janice Corp. |

b. |
Calculate the business income apportioned to State X. |

c. |
Calculate the taxable income for State X for each company. |

d. |
Determine the tax liability for State X for the entire group. |

**Category:**Business, General Business

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