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Plamen corporation has the following business income:

Sales of $4 million; $2,400,000 in State of Bliss;

Payroll of $900,000, $360,000 in State of Bliss;

Property of $6 million; $2,700,000 in State of Bliss.

Plamen Corporation's taxable income for State of Bliss, which uses three factors, all single weighted, is $225,000. Calculate the State of Bliss income tax using the applicable 4 percent tax rate for 2015.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M92796994

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