LeMond Incorporated, a Wisconsin corporation, runs bicycle tours in several states. LeMond also has a Wisconsin retail store and an Internet store that ships to out-of-state customers. The bicycle tours operate in Colorado, North Carolina, and Wisconsin, where LeMond has employees and owns and uses tangible personal property. LeMond has real property only in Wisconsin and logs the following sales: State Arizona California Colorado North Carolina Oregon Wisconsin Totals State LeMond Sales Arizona Goods $ 34,194 110,612 25,913 16,721 15,431 241,982 $ 444,853 Services Sales and Use Tax $0 0 356,084 225, 327 0 877,441 $ 1,458,852 Total Assume the following hypothetical tax rates: Arizona (5.6 percent), California (7.75 percent), Colorado (8 percent), North Carolina (6.75 percent), Oregon (no sales tax), and Wisconsin (5 percent). How much sales tax must LeMond collect and remit, assuming these states, have adopted Wayfair legislation? Note: Round your final answers to the nearest whole dollar amount. Leave no answer blank. Enter zero if applicable. $ 34,194 110,612 381,997 242,048 15,431 1,119,423 $ 1,903,705
LeMond Incorporated, a Wisconsin corporation, runs bicycle tours in several states. LeMond also has a Wisconsin retail store and an Internet store that ships to out-of-state customers. The bicycle tours operate in Colorado, North Carolina, and Wisconsin, where LeMond has employees and owns and uses tangible personal property. LeMond has real property only in Wisconsin and logs the following sales: State Arizona California Colorado North Carolina Oregon Wisconsin Totals State LeMond Sales Arizona Goods $ 34,194 110,612 25,913 16,721 15,431 241,982 $ 444,853 Services Sales and Use Tax $0 0 356,084 225, 327 0 877,441 $ 1,458,852 Total Assume the following hypothetical tax rates: Arizona (5.6 percent), California (7.75 percent), Colorado (8 percent), North Carolina (6.75 percent), Oregon (no sales tax), and Wisconsin (5 percent). How much sales tax must LeMond collect and remit, assuming these states, have adopted Wayfair legislation? Note: Round your final answers to the nearest whole dollar amount. Leave no answer blank. Enter zero if applicable. $ 34,194 110,612 381,997 242,048 15,431 1,119,423 $ 1,903,705
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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