15 May Benchmark – State Apportionment/Part 2 Only
This benchmark assignment assesses the following competency: 3.2: Demonstrate the skills required to apply that knowledge in providing tax preparation and advisory services and performing other responsibilities as certified public accountants.
The purpose of this assignment is to practice apportionment. You will complete two tasks: answer questions for a client in memo format and calculate the apportionment factors for a multistate business. XYZ Corporation is your client and you regularly communicate with the CFO, Danny Client.
Part 1:
XYZ Corporation is a calendar year taxpayer that manufacturers equipment for businesses in Arizona, Kansas, and Oklahoma. The Company headquarters are located in Arizona, but a number of the employees travel to Colorado to solicit sales from potential customers. After products are delivered to customers in Colorado, XYZ sends employees to install the products and conduct training. Does XYZ have income tax nexus in Colorado? Provide advisory services by explaining the concept of nexus to the CFO, Danny Client, using the information from Public Law 86-272.
Additionally, explain the general concepts of apportionment and allocations along with the results from Part 2 of this assignment with regard to the financial impact to XYZ Corporation for conducting business in multiple states.
The memo should be between 250-500 words.
Part 2:
Utilize the “State Apportionment” resource to complete this part of the assignment.
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 r
Our website has a team of professional writers who can help you write any of your homework. They will write your papers from scratch. We also have a team of editors just to make sure all papers are of HIGH QUALITY & PLAGIARISM FREE. To make an Order you only need to click Ask A Question and we will direct you to our Order Page at WriteDemy. Then fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.
Fill in all the assignment paper details that are required in the order form with the standard information being the page count, deadline, academic level and type of paper. It is advisable to have this information at hand so that you can quickly fill in the necessary information needed in the form for the essay writer to be immediately assigned to your writing project. Make payment for the custom essay order to enable us to assign a suitable writer to your order. Payments are made through Paypal on a secured billing page. Finally, sit back and relax.
About Writedemy
We are a professional paper writing website. If you have searched a question and bumped into our website just know you are in the right place to get help in your coursework. We offer HIGH QUALITY & PLAGIARISM FREE Papers.
How It Works
To make an Order you only need to click on “Order Now” and we will direct you to our Order Page. Fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.
Are there Discounts?
All new clients are eligible for 20% off in their first Order. Our payment method is safe and secure.