Marcy Industries, Inc. does business in a state that apportions business income using a three-factor formula giving
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Marcy Industries, Inc. does business in a state that apportions business income using a three-factor formula giving double weight to the sales factor. If the company's business income is $500,000, the property factor is 35%, the payroll factor is 50%, and the sales factor is 45%, how much of its income has to be apportioned to the state?
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Related Book For
CCH Federal Taxation Basic Principles 2020
ISBN: 9780808051787
2020 Edition
Authors: Ephraim P. Smith, Philip J. Harmelink, James R. Hasselback
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