Refer to the facts in problem 2. Compute the state income tax savings if Oldham could relocate

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Refer to the facts in problem 2. Compute the state income tax savings if Oldham could relocate its personnel so that payroll expense in State M increased to $1,900 (thou-sand) and payroll expense in State N decreased to $100 (thousand).
In Problem 2

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Principles Of Taxation For Business And Investment Planning 2016 Edition

ISBN: 9781259549250

19th Edition

Authors: Sally Jones, Shelley Rhoades Catanach

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Question Posted: Nov 03, 2015 05:33 AM

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Refer to the facts in problem 2. Compute the state income tax savings if Oldham could relocate

Question:

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

Step by Step Answer:

State Ms payroll factor would increase to 95 and State Ns payroll factor would decrease to 5 E...View the full answer

Principles Of Taxation For Business And Investment Planning 2016 Edition

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