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Question - Offenburg, Inc. does business in states X and Y. State X uses an equally-weighted three-factor apportionment formula and has a 4 percent state tax rate. State Y uses an apportionment formula that double-weights the sales factor and has a 6 percent tax rate. The company's taxable income, before apportionment, is $3 million. Its sales, payroll, and property information are as follows.
X
Y
Total
Gross receipts/sales
$575,000
100,000
675,000
Payroll
140,000
60,000
200,000
Property
600,000
150,000
750,000
Requirements - Determine the following:
(1) The company's apportionment factor to state X in percent (XX.X%).
(2) The company's apportionment factor to state Y in percent (XX.X%).
(3) State tax liability for state X.
(4) State tax liability for state Y.
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