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Business, 10.09.2019 21:20 roxyfranciscus

Oldham inc. conducts business in state m and state n, which both use the uditpa three-factor formula to apportion income. state m’s corporate tax rate is 4.5 percent, and state n’s corporate tax rate is 7 percent. this year, oldham had the following sales, payroll, and property (in thousands of dollars) in each state. state m state n total gross receipts from sales $4,300 8,800 13,100 payroll expense 2,100 2,500 4,600 property costs 2,200 2,300 4,500 if oldham's before-tax income was $4.3 million, compute its state m and state n tax. (round all apportionment factors to 4 decimal places, e. g., 47.15% would be 0.4715. enter "apportionment percentage" and "tax rate" in decimals and not in percentage. enter your answers in dollars and not in millions or thousands of dollars.) state m staten total taxable income subject to apportionment apportionment percentage state taxable income tax rate state tax

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