LeMond Incorporated, a Wisconsin corporation, runs bicycle tours in several states. LeMond also has a Wisconsin retail

Question:

LeMond Incorporated, a Wisconsin corporation, runs bicycle tours in several states. LeMond also has a Wisconsin retail store and an Internet storethat ships to out-of-state customers. The bicycle tours operate in Colorado, North Carolina, and Wisconsin where LeMond has employees and owns and uses tangible personal property. LeMond has real property only in Wisconsin and logs the following sales:


LeMondSales


State

Goods

Services

Total

Arizona

$34,194 

$0 

$34,194 

California

110,612

0

110,612

Colorado

25,913

356,084

381,997

North Carolina

16,721

225,327

242,048

Oregon

15,431

0

15,431

Wisconsin

241,982

877,441

1,119,423

Totals

$444,853

$1,458,852

$1,903,705

Assume the following tax rates: Arizona (5.6 percent), California (7.75 percent), Colorado (8 percent), North Carolina (6.75 percent), Oregon (8 percent), and Wisconsin (5 percent). How much sales tax must LeMond collect and remit?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  answer-question

Taxation Of Individuals And Business Entities 2019 Edition

ISBN: 9781259918391

10th Edition

Authors: Brian C. Spilker, Benjamin C. Ayers, John Robinson, Edmund Outslay, Ronald G. Worsham, John A. Barrick, Connie Weaver

Question Posted: