3. ABC has the following data: (in thousands) Louisian a Mississippi Other Total Sales 600 300...

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3. ABC has the following data: (in thousands) Louisian a Mississippi Other Total Sales 600 300 100 1000 Payroll 80 40 120 Propert y 200 400 600 Their federal taxable income for the year is $500,000. Louisiana is their state of incorporation. They expanded into Mississippi 2 years ago. Additional information: a. This income includes interest income of $15,000. b. Federal income liability is $170,000. Assuming Louisiana has a throwback rule, how much income should be apportioned to Louisiana? - 3. ABC has the following data: (in thousands) Louisian a Mississippi Other Total Sales 600 300 100 1000 Payroll 80 40 120 Propert y 200 400 600 Their federal taxable income for the year is $500,000. Louisiana is their state of incorporation. They expanded into Mississippi 2 years ago. Additional information: a. This income includes interest income of $15,000. b. Federal income liability is $170,000. Assuming Louisiana has a throwback rule, how much income should be apportioned to Louisiana? -

Answer rating: 100% (QA)

Answer To calculate the federal taxable income for ABC we can start by summing up the ... View the full answer