Condor Corporation generated $450,000 of state taxable income from selling its product in States 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's total state income tax liability is determined as follows.
STATE A INCOME TAX LIABILITY

B. For the taxable year, the corporation's activities within the two states were as follows.
Condor has determined that it is subject to tax in both A and

Question

Condor Corporation generated $450,000 of state taxable income from selling its product in States 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's total state income tax liability is determined as follows.
STATE A INCOME TAX LIABILITY

B. For the taxable year, the corporation's activities within the two states were as follows.
  Condor has determined that it is subject to tax in both A and

Quizplus · Accepted Answer

The Answer of Condor Corporation generated $450,000 of state taxable income from selling its product in States 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's total state income tax liability is determined as follows.
STATE A INCOME TAX LIABILITY

B. For the taxable year, the corporation's activities within the two states were as follows.
  Condor has determined that it is subject to tax in both A and

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