ACC 668 Topic 8 Benchmark State Apportionment GCU

Description

ACC 668 Topic 8 Benchmark State Apportionment GCU

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 return. Assume XYZ generates $100,200,000 of total revenue.

General Requirements

Prepare this assignment according to the guidelines found in the APA Style Guide, located in the Student Success Center. An abstract is not required.

This assignment uses a rubric. Please review the rubric prior to beginning the assignment to become familiar with the expectations for successful completion.

You are required to submit this assignment to LopesWrite. Refer to the LopesWrite Technical Support articles for assistance.

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ACC 668 Topic 8 Benchmark State Apportionment GCU

ACCT 553 DeVry, BIAM 500 DeVry, CIS 500 STR, CIS 558 STR, ENG 105 GCU, FIN 390 DeVry, FIN 504 GCU, HCA 545 GCU, HCA 699 GCU, HLT 306 GCU, HLT 362 GCU, HLT 555 GCU, HLT 610 GCU, HLT 665 GCU, HOSP 594 DeVry, HRM 600 DeVry, MAT 144 GCU, MGMT 600, MGT 599 STR, MGT 655 GCU, MKT 373 GCU, PSY 362 GCU, PSY 565 GCU, PSY 575 GCU, PSY 665 GCU, SOC 102 GCU, SOC 320 GCU, SOC 372 GCU, SOC 412 GCU, NSG 6440 SU, HIM 515 GCU, NSG 4029 SU, HIM 615 GCU, NSG 3029 SU, NSG 4055 SU, NSG 6630 SU, NSG 6005 SU, CRMJ 310, PSY 510 GCU, CRMJ 300 Devry, CRMJ 425, SPD 200 GCU, HLT 490 GCU ,ECH 340 GCU , ECH 440 GCU , ECH 355 GCU ,ECH 350 GCU ,LDR 461 GCU ,ECH 425 GCU ,REL 212 STR ,SCI 115 STR ,CIS 505 STR ,JUS 652 GCU, MGT 640 GCU, CIS 527 STR, SOC 436 GCU,ACC 502 GCU, FIN 504 GCU , MATH 260 DeVry ,ETHC 445 DeVry ,ECET 220 DeVry , CARD 405 DeVry, NETW 203 DeVry, NETW 205 DeVry, ECET 365 DeVry ,MATH 270 DeVry ,PHYS 310 DeVry, BIB 106 GCU ,CIS 512 STR ,SYM 506 GCU ,ECN 601 GCU  ,BIAM 570 DeVry, PSY 402 GCU , SOC 480 GCU , HUM 112 STR , PHI 210 STR,  ACC 667 GCU,  ACC 622 GCU,  ACC 623 GCU,  ENTR 510 DeVry, ACC 668 GCU