Compute the use tax that Heliot owes to State H for the property purchased in S Pre credit use tax Sales tax paid to State K Use tax owed to State H Amount Compute the use tax that Heliot owes to State H for the property purchased in S Pre credit use tax Sales tax paid to State L Use tax owed to State H Amount
Compute the use tax that Heliot owes to State H for the property purchased in S Pre credit use tax Sales tax paid to State K Use tax owed to State H Amount Compute the use tax that Heliot owes to State H for the property purchased in S Pre credit use tax Sales tax paid to State L Use tax owed to State H Amount
Chapter16: Multistate Corporate Taxation
Section: Chapter Questions
Problem 45P
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Question
Transcribed Image Text:Heliot Company operates its business in State H, which levies a 6 percent sales and use tax. This year, Heliot purchased a
$785,000 item of tangible property in State K and paid $23,550 sales tax to the state. It also purchased a $857,000 item of
tangible property in State L and paid $53,991 sales tax to the state. Firm H transported both items of property into State H
for use in its business.
Required:
Compute the use tax that Heliot owes to State H for the property purchased in State K.
Compute the use tax that Heliot owes to State H for the property purchased in State L.
Compute the use tax that Heliot owes to State H for the property purchased in State K.
Pre credit use tax
Sales tax paid to State K
Use tax owed to State H
Amount
Compute the use tax that Heliot owes to State H for the property purchased in State L.
Pre credit use tax
Sales tax paid to State L
Use tax owed to State H
Amount
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