Provide tax preparation by computing XYZ's apportionment factors for all three states. For at least one of the states (not all three), prepare the apportionment form using the income tax return forms for the current tax year. For example, use Form 120 for Arizona, Form K-120 for Kansas, or Form 512 for Oklahoma. You are only required to complete the apportionment schedule, not the entire tax return. Assume XYZ generates $100,200,000 of total revenue.
Use this resource to complete the State Apportionment assignment in Topic 8. You will use the table below to complete Part 2 of the assignment.
State departments of revenue are found at the following links: Arizona: https://azdor.gov/ Kansas: https://www.ksrevenue.org/index.html Oklahoma: https://www.ok.gov/tax/Forms_&_Publications/Forms/Income/
XYZ Corporation is not part of a consolidated group and is located at 3300 W. Camelback Road, Suite 135, Phoenix, AZ 85017. The business is incorporated in the State of Arizona, and business started 1/14/2010. Its EIN is 86-1234567 and the NAICS code is 332311.
The following information is available regarding the activity in each state:
Inventory (at cost), beginning of year
Inventory (at cost), end of year
Depreciable assets, beginning of year
Depreciable assets, end of year
Land, beginning of year
Land, end of year
Compensation for officers
Wages, salaries, and commissions
Sales of products, shipped from outside the state
Sales of products, shipped from inside the state
Sales of products, shipped to the U.S. government
Sales of services
Laws not needed for this. Just advisory memo to CFO and apportionment.
Please do only Arizona.
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