Problem $15-40($LO$.6,9)$

True Corporation, a wholly owned subsidiary of Trumaine Corporation, generated a $\backslash (\backslash$$ $400,000\backslash )$ taxable loss in its first year of operations. True's activities and sales are restricted to State A $,$ which imposes an $\backslash (8\backslash \%\backslash )$ income tax. In the same year, Trumaine's taxable income is $\backslash (\backslash$$ $1,000,000\backslash ).$ Trumaine's activities and sales are restricted to State B$,$ which imposes an $\backslash (11\backslash \%\backslash )$ income tax. Both states use a three$-$factor apportionment formula that equally weights sales, payroll, and property, and both require a unitary group to file on a combined basis. Sales, payroll, and average property for each corporation are as follows:True CorporationTrumaine Corporation

True and Trumaine have been found to be members of a unitary business.

For all computations, round any percentages to two decimal places. Round your final answer to the nearest dollar and use the same in subsequent calculations.

a$.$ Determine the overall state income tax for the unitary group.

State A tax liability if unitary, is $\backslash$$

State B tax liability if unitary, is $\backslash (\backslash$ddagger $\backslash )$

The overall state income tax for the unitary group is $\backslash (\backslash$ddagger $\backslash )$