State corporate income tax laws. Go to the Internet site of a state revenue department of your choice or the state assigned to you by the instructor. Links to all state revenue departments can be found at www.taxsites.com/State-Links.html. Download and print out the instructions for filing an income tax return for a C corporation, including the instructions for apportioning income. Note that some states refer to their corporate income tax as a "corporate franchise tax." Using the tax return instructions, answer the following questions regarding that state's corporate income tax laws. (Arizona)
a. What is the corporate tax rate (or tax rate schedule)?
b. Under what circumstances must a corporation file an income tax return?
c. What are the filing options for a group of commonly controlled corporations?
d. Does the computation of state taxable income start with federal taxable income? If so, does the computation begin with line 28 or line 30 of federal Form 1120?