General Corporation Is Taxable in a Number of States

question 137

Multiple Choice

General Corporation is taxable in a number of states.This year,General made a $100,000 sale from its A headquarters to the State B office of the FBI.In which state(s) will the sale be included in the sales factor numerator?

• A)$0 in A and $0 in B.
• B)$50,000 in A, with the balance exempted from other states' sales factors under the Colgate doctrine.
• C)$100,000 in A.
• D)$100,000 in B.

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Definitions:

W-4 Form

A tax form used in the United States for employees to indicate their tax withholding preferences to their employers.

Beginning Of Employment

The commencement date or period when a newly hired employee starts their role within an organization.

Updated Yearly

Describes something, typically a document or software, that is reviewed and revised on an annual basis to ensure it contains the most current information or features.

Petty Cash

A small amount of cash on hand used for covering minor expenses in a business, such as office supplies or coffee.