[The following information applies to the questions displayed below.] Delicious Dave's Maple Syrup, a Vermont Corporation, has property in the following states: Property Beginning $ 923,032 $ 103,311 $ 381,983 $ 873,132 $ 2,281,458 Maine State Massachusetts New Hampshire Vermont Total Ending $ 994, 221 $ 203,109 $ 283,021 $891,976 $ 2,372,327 What are the property apportionment factors for Maine Massachusetts New Hampshire and Vermont in each of the follow

[The following information applies to the questions displayed below.] Delicious Dave's Maple Syrup, a Vermont Corporation, has property in the following states: Property Beginning $ 923,032 $ 103,311 $ 381,983 $ 873,132 $ 2,281,458 Maine State Massachusetts New Hampshire Vermont Total Ending $ 994, 221 $ 203,109 $ 283,021 $891,976 $ 2,372,327 What are the property apportionment factors for Maine Massachusetts New Hampshire and Vermont in each of the follow

SWFT Corp Partner Estates Trusts

42nd Edition

ISBN:9780357161548

Author:Raabe

Publisher:Raabe

Chapter16: Multistate Corporate Taxation

Section: Chapter Questions

Problem 31P

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Required Information [The following information applies to the questions displayed below.] Delicious Dave's Maple Syrup, a Vermont Corporation, has property in the following states: Property Beginning $ 923,032 $ 103,311 $381,983 $ 873,132 $ 2,281,458 Maine State Maine Massachusetts New Hampshire Vermont Total What are the property apportionment factors for Maine, Massachusetts, New Hampshire, and Vermont In each of the following alternative scenarios? (Round Intermediate calculations and final answers to 2 decimal places.) a. Delicious Dave's has income tax nexus in each of the states. Massachusetts New Hampshire Vermont Property Apportionment Factors Ending $ 994,221 $ 203,109 $ 283,021 $ 891,976 $ 2,372,327 % %
Delicious Dave’s Maple Syrup, a Vermont corporation, has property in the following states: Property State Beginning Ending Maine $923032 $994,221 Massachusetts $103,311 $203,109 New Hampshire $381,983 $283,021 Vermont $873,132 $891,976 Total $2,281,458 $2,372,327 What are the property apportionment factors for Maine, Massachusetts, New Hampshire, and Vermont in each of the following alternative scenarios? (Round intermediate calculations and final answers to 2 decimal places.) a. Delicious Dave’s has income tax nexus in each of the states. Property Apportionment Factors Maine % Massachusetts % New Hampshire % Vermont %
Delicious Dave’s Maple Syrup, a Vermont corporation, has property in the following states: Property State Beginning Ending Maine $923032 $994,221 Massachusetts $103,311 $203,109 New Hampshire $381,983 $283,021 Vermont $873,132 $891,976 Total $2,281,458 $2,372,327 What are the property apportionment factors for Maine, Massachusetts, New Hampshire, and Vermont in each of the following alternative scenarios? (Round intermediate calculations and final answers to 2 decimal places.) b. Delicious Dave’s has income tax nexus in each of the states, but the Maine total includes $400,000 of investment property that Delicious rents out (unrelated to its business). Property Apportionment Factors Maine % Massachusetts % New Hampshire % Vermont %
Delicious Dave’s Maple Syrup, a Vermont corporation, has property in the following states: Property State Beginning Ending Maine $923032 $994,221 Massachusetts $103,311 $203,109 New Hampshire $381,983 $283,021 Vermont $873,132 $891,976 Total $2,281,458 $2,372,327 What are the property apportionment factors for Maine, Massachusetts, New Hampshire, and Vermont in each of the following alternative scenarios? (Round intermediate calculations and final answers to 2 decimal places.) c. Delicious Dave’s has income tax nexus in each of the states, but it also pays $50,000 to rent property in Massachusetts. Property Apportionment Factors Maine % Massachusetts % New Hampshire % Vermont %
Delicious Dave’s Maple Syrup, a Vermont corporation, has property in the following states: Property State Beginning Ending Maine 935,185 1,006,788 Massachusetts 111,990 215,097 New Hampshire 391,601 292,438 Vermont 885,432 907,576 Total 2,324,208 2,421,899 What are the property apportionment factors for Maine, Massachusetts, New Hampshire, and Vermont in each of the following alternative scenarios? a. Delicious Dave’s has income tax nexus in each of the states.
Delicious Dave's Maple Syrup, a Vermont Corporation, has property in the following states: Property Beginning. $951,389 $ 123,562 $ 404,425 $ 901,832 $ 2,381,208 State Massachusetts New Hampshire Vermont Total Maine What are the property apportionment factors for Maine, Massachusetts, New Hampshire, and Vermont in each of the following alternative scenarios? Note: Round intermediate calculations and final answers to 2 decimal places. c. Delicious Dave's has income tax nexus in each of the states, but it also pays $53,500 to rent property in Massachusetts. Property Apportionment Factors Maine Ending $ 1,023,544 $ 231,081 $ 304,994 $928,376 $ 2,487,995 Massachusetts New Hampshire Vermont % % % %
[Fourth Item: Problem Solving] Izzy Transport is engaged in the transportation business. It is registered as a domestic common carrier by land. The receipts for June of the current taxable year are as follows: Sourced from the transport of passengers P1,800,000 Sourced from the transport of goods 2,200,000 Sourced from the transport of cargoes 800,000 The common carriers’ tax due and payable is a. Nil b. P54,000 c. P78,000 d. P90.000
Assume the following taxpayer information: The taxpayer is a South African manufacturing company (not a small business corporation as defined) with a 31 March 2022 year of assessment. Calculate the tax value of the machine BELOW. Information pertaining to manufacturing machine: Events Date Amount R560 000 Sold 30 November 2021 Puchased 1 June 2019 R230 000 Recoupment (before limited to capital allowances previously claimed) R514 000 Ⓒa. R46 000 Ob. R nil OCR184 000 Od. R284 000
Chapeau Company, a U.S. corporation, operates through a branch in Champagnia. The source rules used by Champagnia are identical to those used by the United States. For 2022, Chapeau has $6,800 of gross income: $4,080 from U.S. sources and $2,720 from sources within Champagnia. The $4,080 of U.S. source income and $2,380 of the foreign source income are attributable to manufacturing activities in Champagnia (foreign branch income). The remaining $340 of foreign source income is passive category interest income. Chapeau had $1,700 of expenses other than taxes, all of which are allocated directly to manufacturing income ($680 of which is apportioned to foreign sources). Chapeau paid $414 of income taxes to Champagnia on its manufacturing income. The interest income was subject to a 10 percent withholding tax of $34. Compute Chapeau's total allowable foreign tax credit in 2022. Note: Do not round any division. Round other intermediate computations to the nearest whole dollar amount. Total…
2.1 BELL Limited is listed on the JSE Securities Exchange and owns the following intangible assets: Dreamy trademark, • Casino license for Northern Caperegion, and • West coast fishing quota (license). Required: Determine whether or not Wish Limited may revalueits intangible assets.
From the following details of sale of a principal residence located in the Philippines by a resident citizen: Cost - P1,000,000 Fair value - P6,000,000 Selling price - P5,500,000 Proceeds of sale were used to acquire new residence for P4,700,000 Other requirements by BIR/NIRC complied with. Compute the capital gains tax liability of the seller/taxpayer.
identify deferred tax assets/liabilioties in the following figure Total Current Assets - - - - Total Assets 1057734 1014060 979868 976502 Cash & Due from Banks 96610 81786 73246 65619 Other Earning Assets, Total 144765 123145 118007 118805 Net Loans 759118 742473 737033 727002 Property/Plant/Equipment, Total - Net 5468 5602 5205 2383 Property/Plant/Equipment, Total - Gross - - - - Accumulated Depreciation, Total - - - - Goodwill, Net 5269 5284 5997 5974 Intangibles, Net 1674 1660 1732 1991 Long Term Investments 2865 3034 3054 3001 Other Long Term Assets, Total 4139 3830 3098 18226 Other Assets, Total 37826 47246 32496 33501 Total Current Liabilities - - - - Total Liabilities 982736 942052 908766 906908 Accounts Payable 9826 13188 9998 10285 Payable/Accrued - - - - Accrued Expenses - - - - Total Deposits 750843 701551 666300 640311 Other Bearing Liabilities, Total - - - 32 Total Short Term Borrowings 26633 16877 20346 19099…