Mandy Corporation realized $1,000,000 taxable income from the sales of its products in States X and Z. Mandy's activities establish nexus for income tax purposes only in Z. Mandy's sales, payroll, and property among the states include the following. X utilizes a sales-only factor in its three-factor apportionment formula. How much of Mandy's taxable income is apportioned to X?

Question

Mandy Corporation realized $1,000,000 taxable income from the sales of its products in States X and Z. Mandy's activities establish nexus for income tax purposes only in Z. Mandy's sales, payroll, and property among the states include the following.  X utilizes a sales-only factor in its three-factor apportionment formula. How much of Mandy's taxable income is apportioned to X?

Quizplus · Accepted Answer

The Answer of Mandy Corporation realized $1,000,000 taxable income from the sales of its products in States X and Z. Mandy's activities establish nexus for income tax purposes only in Z. Mandy's sales, payroll, and property among the states include the following.  X utilizes a sales-only factor in its three-factor apportionment formula. How much of Mandy's taxable income is apportioned to X?

Mandy Corporation Realized $1,000,000 Taxable Income from the Sales of Its