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 Goods $ 35,026 112,148 26,681 17,321 15,951 243,486 879,985 1,123,471 $ 450,613 $ 1,465,132 $ 1,915,745 Arizona California Colorado North Carolina Oregon Wisconsin Services Sales and Use Tax $0 0 358,580 226,567 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, except California, have adopted Wayfair legislation? Note: Round your final answers to the nearest whole dollar amount. Leave no answer blank. Enter zero if applicable. 0 Total $ 35,026 112,148 385,261 243,888 15,951
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 Goods $ 35,026 112,148 26,681 17,321 15,951 243,486 879,985 1,123,471 $ 450,613 $ 1,465,132 $ 1,915,745 Arizona California Colorado North Carolina Oregon Wisconsin Services Sales and Use Tax $0 0 358,580 226,567 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, except California, have adopted Wayfair legislation? Note: Round your final answers to the nearest whole dollar amount. Leave no answer blank. Enter zero if applicable. 0 Total $ 35,026 112,148 385,261 243,888 15,951
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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