Question 1

General Corporation is taxable in a number of states.This year, General made a $100,000 sale from its A headquarters to a customer in B.This activity is not sufficient for General to create nexus with B.State A applies a throwback rule, but State B does not.In which states)  will the sale be included in the sales factor numerator?

Accepted Answer

A)  $0 in both A and B.
B)  $100,000 in A.
C)  $100,000 in B.
D)  In both A and B, according to the apportionment formulas of each.E) A) and B)
F) B) and C)

Question 2

General Corporation is taxable in a number of states.This year, General made a $100,000 sale from its A headquarters to a customer in B.General has not established nexus with B.State A does not apply a throwback rule.In which states)  will the sale be included in the sales factor numerator?

Accepted Answer

A)  In all of the states, according to the apportionment formulas of each, as the U.S.government is present in all states.
B)  $100,000 in A.
C)  $100,000 in B.
D)  $0 in A and $0 in B.E) A) and D)
F) A) and C)

Question 3

Politicians frequently use tax credits and exemptions to create economic development incentives.

Accepted Answer

A) True 
 B)False

Question 4

Match each of the following items with the appropriate description, in applying the P.L.86-272 definition of solicitation.
-Operating a warehouse for inventory that is held in the state.

Accepted Answer

A)  More than solicitation, creates nexus
B)  Solicitation only, no nexus createdC) A) and B)
D) undefined

Question 5

Typically, the state's payroll factor does/does not) include the salaries and bonuses paid to its corporate executives.

Accepted Answer

The answer of Typically, the state's payroll factor does/does not)...

Exam 16: Multijurisdictional Taxation

Politicians frequently use tax credits and exemptions to create economic development incentives.

Correct Answer
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General Corporation is taxable in a number of states.This year, General made a $100,000 sale from its A headquarters to a customer in B.General has not established nexus with B.State A does not apply a throwback rule.In which states) will the sale be included in the sales factor numerator?

Correct Answer
verified

Correct Answer
verified

Typically, the state's payroll factor does/does not) include the salaries and bonuses paid to its corporate executives.

Correct Answer
verified

Match each of the following items with the appropriate description, in applying the P.L.86-272 definition of solicitation. -Operating a warehouse for inventory that is held in the state.

Correct Answer
verified

Exam 16: Multijurisdictional Taxation

Politicians frequently use tax credits and exemptions to create economic development incentives.

Correct AnswerverifiedShow Answer

General Corporation is taxable in a number of states.This year, General made a $100,000 sale from its A headquarters to a customer in B.General has not established nexus with B.State A does not apply a throwback rule.In which states) will the sale be included in the sales factor numerator?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Typically, the state's payroll factor does/does not) include the salaries and bonuses paid to its corporate executives.

Correct AnswerverifiedShow Answer

Match each of the following items with the appropriate description, in applying the P.L.86-272 definition of solicitation. -Operating a warehouse for inventory that is held in the state.

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
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