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Sharon Inc. is headquartered in State X and owns 100 percent of Carol, Josey, and Janice Corps, which form a single unitary group. Assume sales operations are within the solicitation bounds of Public Law 86-272. Each of the corporations has operations in the following states:
Sharon Inc. is headquartered in State X and owns 100 percent of Carol, Josey, and Janice Corps, which form a single unitary group. Assume sales operations are within the solicitation bounds of Public Law 86-272. Each of the corporations has operations in the following states:
Sharon Inc. is headquartered in State X and owns 100 percent of Carol, Josey, and Janice Corps, which form a single unitary group. Assume sales operations are within the solicitation bounds of Public Law 86-272. Each of the corporations has operations in the following states:
Sharon Inc. is headquartered in State X and owns 100 percent of Carol, Josey, and Janice Corps, which form a single unitary group. Assume sales operations are within the solicitation bounds of Public Law 86-272. Each of the corporations has operations in the following states:
Sharon Inc. is headquartered in State X and owns 100 percent of Carol, Josey, and Janice Corps, which form a single unitary group. Assume sales operations are within the solicitation bounds of Public Law 86-272. Each of the corporations has operations in the following states:
 

Domicile State     Sharon Inc.State X(throwback) Carol CorpState Y(throwback) Josey CorpState Z(nonthrowback) Janice CorpState Z(nonthrowback)   Dividend income $ 1,030     $ 560    $ 420     $ 400       Business income $ 40,000     $ 45,250    $ 16,400     $ 16,200       Sales: State X $ 83,200     $ 19,500    $ 11,900     $ 12,200                 State Y     $ 50,750    $ 9,350                     State Z     $ 30,000    $ 39,000     $ 11,900                 State A $ 34,000                              State B $ 15,500             $ 11,500       Property: State X $ 70,500     $ 27,400        $ 10,200                     State Y     $ 102,250                            State Z         $ 42,000     $ 30,500                     State A $ 69,500                   Payroll: State X $ 17,600     $ 14,500                          State Y     $ 63,250                          State Z         $ 5,100     $ 13,400                   State A             $ 16,000    
Domicile State     Sharon Inc.State X(throwback) Carol CorpState Y(throwback) Josey CorpState Z(nonthrowback) Janice CorpState Z(nonthrowback)   Dividend income $ 1,030     $ 560    $ 420     $ 400       Business income $ 40,000     $ 45,250    $ 16,400     $ 16,200       Sales: State X $ 83,200     $ 19,500    $ 11,900     $ 12,200                 State Y     $ 50,750    $ 9,350                     State Z     $ 30,000    $ 39,000     $ 11,900                 State A $ 34,000                              State B $ 15,500             $ 11,500       Property: State X $ 70,500     $ 27,400        $ 10,200                     State Y     $ 102,250                            State Z         $ 42,000     $ 30,500                     State A $ 69,500                   Payroll: State X $ 17,600     $ 14,500                          State Y     $ 63,250                          State Z         $ 5,100     $ 13,400                   State A             $ 16,000    
Domicile State     Sharon Inc.State X(throwback) Carol CorpState Y(throwback) Josey CorpState Z(nonthrowback) Janice CorpState Z(nonthrowback)
Domicile State    
Sharon Inc.State X(throwback)

Carol CorpState Y(throwback)

Josey CorpState Z(nonthrowback)

Janice CorpState Z(nonthrowback)

  Dividend income $ 1,030     $ 560    $ 420     $ 400    
  Dividend income
$
1,030    
$
560   
$
420    
$
400    
  Business income $ 40,000     $ 45,250    $ 16,400     $ 16,200    
  Business income
$
40,000    
$
45,250   
$
16,400    
$
16,200    
  Sales: State X $ 83,200     $ 19,500    $ 11,900     $ 12,200    
  Sales: State X
$
83,200    
$
19,500   
$
11,900    
$
12,200    
            State Y     $ 50,750    $ 9,350        
            State Y
 
 
$
50,750   
$
9,350    
 
 
            State Z     $ 30,000    $ 39,000     $ 11,900    
            State Z
 
 
$
30,000   
$
39,000    
$
11,900    
            State A $ 34,000                 
            State A
$
34,000    
 
 
 
 
 
  
            State B $ 15,500             $ 11,500    
            State B
$
15,500    
 
 
 
 
$
11,500    
  Property: State X $ 70,500     $ 27,400        $ 10,200    
  Property: State X
$
70,500    
$
27,400   
 
 
$
10,200    
                State Y     $ 102,250           
                State Y
 
 
$
102,250   
 
 
 
 
                State Z         $ 42,000     $ 30,500    
                State Z
 
 
 
 
$
42,000    
$
30,500    
                State A $ 69,500                
                State A
$
69,500    
 
 
 
 
 
 
  Payroll: State X $ 17,600     $ 14,500           
  Payroll: State X
$
17,600    
$
14,500   
 
 
 
 
              State Y     $ 63,250           
              State Y
 
 
$
63,250   
 
 
 
 
              State Z         $ 5,100     $ 13,400    
              State Z
 
 
 
 
$
5,100    
$
13,400    
              State A             $ 16,000    
              State A
 
 
 
 
 
 
$
16,000    
 

Compute the following for State X assuming a tax rate of 15 percent. (Be sure to use an equally weighted three-factor apportionment formula. Round your apportionment factors to 4 decimal places. Also round your apportioned business income and tax liability to the nearest dollar amount.)
Compute the following for State X assuming a tax rate of 15 percent. (Be sure to use an equally weighted three-factor apportionment formula. Round your apportionment factors to 4 decimal places. Also round your apportioned business income and tax liability to the nearest dollar amount.)
Compute the following for State X assuming a tax rate of 15 percent. (Be sure to use an equally weighted three-factor apportionment formula. Round your apportionment factors to 4 decimal places. Also round your apportioned business income and tax liability to the nearest dollar amount.)
Compute the following for State X assuming a tax rate of 15 percent. (Be sure to use an equally weighted three-factor apportionment formula. Round your apportionment factors to 4 decimal places. Also round your apportioned business income and tax liability to the nearest dollar amount.)
Compute the following for State X assuming a tax rate of 15 percent. (Be sure to use an equally weighted three-factor apportionment formula. Round your apportionment factors to 4 decimal places. Also round your apportioned business income and tax liability to the nearest dollar amount.)
 

a. Calculate the State X apportionment factor for Sharon Inc., Carol Corp., Josey Corp., and Janice Corp.
a. Calculate the State X apportionment factor for Sharon Inc., Carol Corp., Josey Corp., and Janice Corp.
a. Calculate the State X apportionment factor for Sharon Inc., Carol Corp., Josey Corp., and Janice Corp.
a.
a.
Calculate the State X apportionment factor for Sharon Inc., Carol Corp., Josey Corp., and Janice Corp.
        

b. Calculate the business income apportioned to State X.
b. Calculate the business income apportioned to State X.
b. Calculate the business income apportioned to State X.
b.
b.
Calculate the business income apportioned to State X.
        

c. Calculate the taxable income for State X for each company.
c. Calculate the taxable income for State X for each company.
c. Calculate the taxable income for State X for each company.
c.
c.
Calculate the taxable income for State X for each company.
        

d. Determine the tax liability for State X for the entire group.
d. Determine the tax liability for State X for the entire group.
d. Determine the tax liability for State X for the entire group.
d.
d.
Determine the tax liability for State X for the entire group.

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