Condor Corporation generated $450,000 of state taxable income from selling its product in States A and B.For the taxable year,the corporation's activities within the two states were as follows. State A State B Total Sales $800,000 $200,000 $1,000,000 Property 300,000 -0- 300,000 Payroll 200,000 800,000 1,000,000 Condor has determined that it is subject to tax in both A and B.Both states utilize a three-factor apportionment formula that equally weights sales,property,and payroll.The rates of corporate income tax imposed in A and B are 5% and 3%,respectively.Determine Condor's state income tax liability.

Question

Condor Corporation generated $450,000 of state taxable income from selling its product in States A and B.For the taxable year,the corporation's activities within the two states were as follows. ​ State A State B Total Sales $800,000 $200,000 $1,000,000 Property 300,000 -0- 300,000 Payroll 200,000 800,000 1,000,000 ​ Condor has determined that it is subject to tax in both A and B.Both states utilize a three-factor apportionment formula that equally weights sales,property,and payroll.The rates of corporate income tax imposed in A and B are 5% and 3%,respectively.Determine Condor's state income tax liability.

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The Answer of Condor Corporation generated $450,000 of state taxable income from selling its product in States A and B.For the taxable year,the corporation's activities within the two states were as follows. ​ State A State B Total Sales $800,000 $200,000 $1,000,000 Property 300,000 -0- 300,000 Payroll 200,000 800,000 1,000,000 ​ Condor has determined that it is subject to tax in both A and B.Both states utilize a three-factor apportionment formula that equally weights sales,property,and payroll.The rates of corporate income tax imposed in A and B are 5% and 3%,respectively.Determine Condor's state income tax liability.

Condor Corporation Generated $450,000 of State Taxable Income from Selling