Business, 19.03.2021 16:00 twhalon72

Castle Corporation conducts business in States 1, 2, and 3. Castle’s $630,000 taxable income consists of $555,000 apportionable income and $75,000 allocable income generated from transactions conducted in State 3. Castle’s sales, property, and payroll are evenly divided among the three states, and the states all employ a three-equal-factors apportionment formula. Determine how much of Castle’s income is taxable in each of the following states.
a. State 1: $
b. State 2: $
c. State 3: $

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Castle Corporation conducts business in States 1, 2, and 3. Castle’s $630,000 taxable income consist...

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