Oldham Inc. conducts business in State M and State N, which both use the UDITPA three-factor formula
Question:
If Oldham€™s before-tax income was $3 million, compute its State M and State N tax.
Transcribed Image Text:
State MM State M Total Gross receipts from sales Payroll expense Property costs 3,000 800 900 $7,500 1,200 1,000 $10,500 2,000 1,900
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 81% (16 reviews)
Oldham has the following apportionment percentages in each state State M State N Sales factor percen...View the full answer
Answered By
Aysha Ali
my name is ayesha ali. i have done my matriculation in science topics with a+ . then i got admission in the field of computer science and technology in punjab college, lahore. i have passed my final examination of college with a+ also. after that, i got admission in the biggest university of pakistan which is university of the punjab. i am studying business and information technology in my university. i always stand first in my class. i am very brilliant client. my experts always appreciate my work. my projects are very popular in my university because i always complete my work with extreme devotion. i have a great knowledge about all major science topics. science topics always remain my favorite topics. i am also a home expert. i teach many clients at my home ranging from pre-school level to university level. my clients always show excellent result. i am expert in writing essays, reports, speeches, researches and all type of projects. i also have a vast knowledge about business, marketing, cost accounting and finance. i am also expert in making presentations on powerpoint and microsoft word. if you need any sort of help in any topic, please dont hesitate to consult with me. i will provide you the best work at a very reasonable price. i am quality oriented and i have 5 year experience in the following field.
matriculation in science topics; inter in computer science; bachelors in business and information technology
_embed src=http://www.clocklink.com/clocks/0018-orange.swf?timezone=usa_albany& width=200 height=200 wmode=transparent type=application/x-shockwave-flash_
4.40+
11+ Reviews
14+ Question Solved
Related Book For
Principles Of Taxation For Business And Investment Planning 2016 Edition
ISBN: 9781259549250
19th Edition
Authors: Sally Jones, Shelley Rhoades Catanach
Question Posted:
Students also viewed these Business Law questions
-
Dixie Inc., a Tennessee corporation, conducts business in South America through two foreign corporations, Dix-Col Inc. and Dix-Per Inc. Dixie formed Dix-Col six years ago and owns 100 percent of its...
-
TR Company conducts business exclusively in State V, which levies a 5 percent sales and use tax on goods purchased or consumed in-state. This year, TR bought equipment in State B. The cost of the...
-
Castle Corporation conducts business in States 1, 2, and 3. Castle's $630,000 taxable income consists of $555,000 apportionable income and $75,000 allocable income generated from transactions...
-
Expected manufacturing costs for Imperial Data Devices are as follows: Variable Costs Fixed Costs per Month Direct material $8.00/unit Supervisory salaries $17,000 Direct labor 3.50/unit Factory...
-
In Fig. 2.25, a student at a window on the second floor of a dorm sees his math professor walking on the sidewalk beside the building. He drops a water balloon from 18.0 m above the ground when the...
-
A chemical reaction must proceed in the direction of (a) Increasing Gibbs free energy (c) Constant Gibbs free energy (b) Decreasing Gibbs free energy (d) None of these.
-
Fill in the Blank. Univariate distributions describe the probability distributions of __________ random variables.
-
You are provided with the following information for Pavey Inc. for the month ended October 31, 2010. Pavey uses a periodic method for inventory. Instructions(a) Calculate (i) ending inventory , (ii)...
-
Write the equation of the line passing through P with direction vector d in vector form and parametric form. P = (1, 0), d= (a) vector form d=[] +t (b) parametric form (Enter your answers as a...
-
Consider the following MAILORDER relational schema describing the data for a mail order company. PARTS(Pno, Pname, Qoh, Price, Olevel) CUSTOMERS(Cno, Cname, Street, Zip, Phone) EMPLOYEES(Eno, Ename,...
-
Omaha Inc. owns 100 percent of the stock in Franco, a foreign corporation. All Francos income is foreign source, and its foreign income tax rate is 20 percent. This year, Franco distributed a $50,000...
-
Dixie Inc., a Tennessee corporation, conducts business through branch offices in the United States, Mexico, and Canada. Dixie owns 100 percent of the stock of two foreign subsidiaries, Dix-Col Inc....
-
Design a program that allows the user to enter 20 names into a String array. Sort the array in ascending (alphabetical) order and display its contents.
-
The cost of debt can be determined using the yield-to-maturity and the bond rating approaches. If the bond rating approach is used, the: A. coupon is the yield. B. yield is based on the interest...
-
What is the difference between a standard corporation (C corporation) and a benefit corporation (B corporation)?
-
Sometimes, there are slight differences in the liquidity of otherwise equivalent securities. Treasury bonds, i.e., bonds issued by sovereign governments, are issued and sold on markets at regular...
-
Why do religious questionssuch as What is the nature of the human spirit?lie outside of the domain of science?
-
What does the term healthcare finance mean?
-
Can a point or a line segment be its own image under a transformation? Explain and illustrate your answer.
-
Kenneth Hubbard has prepared the following list of statements about managerial accounting and financial accounting. 1. Financial accounting focuses on providing information to internal users. 2....
-
Differentiate between the Supreme Courts overturning of a lower courts decision and its denial of a writ of certiorari.
-
Is it possible for a taxpayer to have a jury trial before any of the trial courts? Before a court of appeals? Before the U. S. Supreme Court?
-
Discuss the precedential value of a court of appeals decision. Which court of appeals decisions are most important to a specific taxpayer?
-
Curl Up & Dye, Inc. began May with $200 of supplies. It purchased $830 of supplies on account during May. It paid $440 of the amount it owed for its supplies in May. At May 31, it only had $200 of...
-
Where do traditional Waterfall approaches work effectively? Detailed explanations and site examples.
-
The accounting records for a restaurant indicate that food sales were $18,000, food used was $5,800, and employee meals at cost were $50. What is the cost of sales?
Study smarter with the SolutionInn App