Question: Enter the appropriate word(s) to complete the statement. 1. The ____________________ tax levied by a state usually is based on the book value of a

Enter the appropriate word(s) to complete the statement.

1. The ____________________ tax levied by a state usually is based on the book value of a corporation's net worth.

2. Several states allow the S corporation to file a(n) ____________________ income tax return, usually in the form of a state-by-state spreadsheet, on behalf of its out-of-state shareholders.

3. Typically, a sales/use tax is applied to a retail sale of ____________________ property.

4. Under common terminology, a unitary group files a ____________________ (combined/consolidated) state income tax return.

5. A(n) ____________________ business operates in concert with its affiliated companies. As a result, the affiliates' data are included in the parent's apportionment computations.

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