Origami Does Business in States X and Y

question 14

Essay

Origami does business in states X and Y. State X uses an equally-weighted three-factor apportionment formula and has a 4 percent state tax rate. State Y uses an apportionment formula that double-weights the sales factor and has a 6 percent tax rate. Cromwell's taxable income, before apportionment, is $3 million. Its sales, payroll, and property information are as follows.
a. Calculate Origami's apportionment factors, income apportioned to each state, and state tax liability.
b. State Y is considering changing its apportionment formula to a single sales factor. Given its current level of activity, would such a change increase or decrease Origami's state income tax burden? Provide calculations to support your conclusion.

Understand the role and functioning of the Consumer Financial Protection Bureau.

Comprehend the responsibilities and risks associated with cosigning a loan.

Grasp the concept and types of credit available to consumers.

Identify steps to take when identity theft occurs.

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Definitions:

Right Hemicolectomy

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Colon Cancer

A type of cancer that begins in the large intestine (colon), part of the digestive system.

Menstrual Cramps

Painful sensations felt in the lower abdomen before or during menstrual periods, due to uterine contractions.

Prostaglandin Activity

Biological processes involving prostaglandins, which are lipid compounds having diverse hormone-like effects in animals.