S CorpBuys Tangible Personal Property for $100,000 in State Z That

question 32

Multiple Choice

S Corp.buys tangible personal property for $100,000 in State Z that imposes a sales tax of 5 percent.S intends to use $20,000 of the property in its business and resell the remaining $80,000.What is S's sales tax liability?

• A)$5,000
• B)$4,000
• C)$1,000
• D)$0
• E)Some other amount

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