Fillon operates manufacturing facilities in States A and B. Fillon has nexus with both states; apportionment factors are 0.65 for A and 0.35 for B. Taxable income for the year totaled $425,625 , with a $567,500 A profit and a $141,875 B loss. If required, round your final answers to the nearest dollar. Calculate taxable income for the year for: State A: $4 State B: $4
Fillon operates manufacturing facilities in States A and B. Fillon has nexus with both states; apportionment factors are 0.65 for A and 0.35 for B. Taxable income for the year totaled $425,625 , with a $567,500 A profit and a $141,875 B loss. If required, round your final answers to the nearest dollar. Calculate taxable income for the year for: State A: $4 State B: $4
SWFT Essntl Tax Individ/Bus Entities 2020
23rd Edition
ISBN:9780357391266
Author:Nellen
Publisher:Nellen
Chapter16: Multijurisdictional Taxation
Section: Chapter Questions
Problem 4CE
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Transcribed Image Text:Fillon operates manufacturing facilities in States A and B. Fillon has nexus with both states; apportionment factors are 0.65 for A and 0.35
for B. Taxable income for the year totaled $425,625 , with a $567,500 A profit and a $141,875 B loss.
If required, round your final answers to the nearest dollar.
Calculate taxable income for the year for:
State A:
State B:
%24
%24
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