Utilize the "State Apportionment" resource to complete this part of the assignment.

Compute XYZ's apportionment factors for all three states. For at least one of the states (not all three), prepare the apportionment form using the income tax return forms for the current tax year. For example, use Form 120 for Arizona, Form K-120 for Kansas, or Form 512 for Oklahoma. You are only required to complete the apportionment schedule, not the entire tax return. Assume XYZ generates $100,200,000 of total revenue.

State Apportionment:

Use this resource to complete the State Apportionment assignment in Topic 8. You will use the table below to complete Part 2 of the assignment.

State departments of revenue we found at the following links:

• Arizona: https://azdor.gov/
• Kansas: https://www.ksrevenue me/index.html
• Oklahoma: https://www.ok.gov/tax/Forms & Publications/Forms/Income/

XYZ Corporation is not part of a consolidated group and is located at 3300 W. Camelback Road, Suite 135, Phoenix, AZ 85017. The business is incorporated in the State of Arizona. and business started 1/14/2010. Its ELM is 86-1234567 mid die NAICS code is 332311.

The following information is available regarding the activity in each state:

Transcribed Image Text:

Property: Inventory (at cost), beginning of year Inventory (at cost), end of year Depreciable assets, beginning of year Depreciable assets, end of year Land, beginning of year Land, end of year Rented property Wages: Compensation for officers Wages, salaries, and commissions Sales: Sales of products, shipped from outside the state Sales of products, shipped from inside the state Sales of products, shipped to the U.S. government Sales of services Portfolio income Arizona 7,000,000 8,000,000 20,000,000 21,000,000 5,000,000 5,000,000 4,000,000 22,400,000 20,000,000 50,000,000 200,000 0 12,000 Kansas 3,000,000 1,000,000 2,500,000 1,200,000 4,000,000 500,000 900,000 4,000,000 2,000,000 2,000,000 0 3,600,000 Oklahoma 0 0 0 0 0 300,000 20,000,000 10,000,000 0 420,000 0 lolo 0 0 Property: Inventory (at cost), beginning of year Inventory (at cost), end of year Depreciable assets, beginning of year Depreciable assets, end of year Land, beginning of year Land, end of year Rented property Wages: Compensation for officers Wages, salaries, and commissions Sales: Sales of products, shipped from outside the state Sales of products, shipped from inside the state Sales of products, shipped to the U.S. government Sales of services Portfolio income Arizona 7,000,000 8,000,000 20,000,000 21,000,000 5,000,000 5,000,000 4,000,000 22,400,000 20,000,000 50,000,000 200,000 0 12,000 Kansas 3,000,000 1,000,000 2,500,000 1,200,000 4,000,000 500,000 900,000 4,000,000 2,000,000 2,000,000 0 3,600,000 Oklahoma 0 0 0 0 0 300,000 20,000,000 10,000,000 0 420,000 0 lolo 0 0

Answer rating: 100% (QA)

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