Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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Nicole's Salon, a Louisiana Corporation, operates beauty salons in Arkansas, Louisiana, and Tennessee. The salons' payrolls by state are as follows: Nicole's Salon State Payroll Arkansas $ 102,000 Louisiana 363,750 Tennessee 754,000 Total $ 1,219,750 What are the payroll apportionment factors for Arkansas, Louisiana, and Tennessee in each of the following alternative scenarios? Note: Round your answers to 2 decimal places.
Required:
a. Nicole's Salon has income tax nexus in Arkansas, Louisiana, and Tennessee.
b. Nicole's Salon has income tax nexus in Arkansas, Louisiana, and Tennessee, but $40,000 of the Arkansas amount is paid to independent contractors.
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