Tennis Pro is headquartered in Virginia. Assume it has a Kentucky state income tax base of $260,000. Of this amount, $48,000 was nonbusiness income. Assume that Tennis Pro's Kentucky sales, payroll, and property apportionment factor are 11, 4, and 5 percent, respectively. Assume that Kentucky uses a single-factor sales formula apportionment method. The nonbusiness income allocated to Kentucky was $5,000. Assuming Kentucky's corporate tax rate is 6 percent, what is Tennis Pro's Kentucky state income tax liability?

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The Answer of Tennis Pro is headquartered in Virginia. Assume it has a Kentucky state income tax base of $260,000. Of this amount, $48,000 was nonbusiness income. Assume that Tennis Pro's Kentucky sales, payroll, and property apportionment factor are 11, 4, and 5 percent, respectively. Assume that Kentucky uses a single-factor sales formula apportionment method. The nonbusiness income allocated to Kentucky was $5,000. Assuming Kentucky's corporate tax rate is 6 percent, what is Tennis Pro's Kentucky state income tax liability?

Tennis Pro Is Headquartered in Virginia