Question

Could you answer this? Sharon Inc. is headquartered in State X and owns 100 percent of Carol, Josey, and Janice Corps. which form a single unitary group. Assume sales operations are within the solicitation bounds of Public Law 86-272. Each of the corporations has operations in the following states: Domicile State Sharon Inc. State X (throwback) Carol Corp. State Y (throwback) Josey Corp. State Z (nonthrowback) Janice Corp. State Z (nonthrowback) Dividend income $ 1,000 $ 200 $ 300 $ 500 Business income $ 50,000 $ 30,000 $ 10,000 $ 10,000 Sales: State X $ 70,000 $ 10,000 $ 10,000 $ 10,000 State Y $ 40,000 $ 5,000 State Z $ 20,000 $ 20,000 $ 10,000 State A $ 20,000 State B $ 10,000 $ 10,000 Property: State X $ 50,000 $ 20,000 $ 10,000 State Y $ 80,000 State Z $ 25,000 $ 20,000 State A $ 50,000 Payroll: State X $ 10,000 $ 10,000 State Y $ 40,000 State Z $ 3,000 $ 10,000 State A $ 10,000 Compute the following for State X assuming a tax rate of 15 percent. (Use an equally weighted three-factor apportionment. Round all apportionment factors to 4 decimal places. Round other answers to the nearest whole dollar amount. Leave no answer blank. Enter zero if applicable.) [The following information applies to the questions displayed below.] a. Calculate the State X apportionment factor for Sharon Inc., Carol Corp., Josey Corp., and Janice Corp. The ones on here are wrong.

Answer 1

	Sharon	Carol	Josoy No NEXUS	Janice
Sales X	70.000	10,000	10,000	10.000
Total	100.000	70,000	35.000	30.000
Property X	50.000	20,000	0	10.000
Total	100.000	100.000	25.000	30.000
Payroll X	10,000	10,000	0	0
Total	10.000	50,000	3,000	20.000
Sales	0,7	0,14		0,3333
Property	0,5	0,2		0,3333
Payroll	1.00	0,2		0.00
	2,2	0,54		0,6666
Apportionment Factor	0.7330	0.18		0.2220
Income	50.000	30.000		10000
Apportioned Income	36667.	5400		2222.
Allocated Income	1000	0
State taxable income	37667.	5400.000		2222.	45289.	Taxable income
					15%	Tax rate
					6793	State tax liability