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Michaels Inc. does business in Arkansas (6% tax rate) and Maryland (5% tax rate). All...

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Accounting

Michaels Inc. does business in Arkansas (6% tax rate) and Maryland (5% tax rate). All other factors being equal, the company will reduce state taxes if it increases the compensation paid to its employees in Maryland. Assume apportionment formula modeled after the Uniform Division of Income for Tax Purposes Act (UDITPA).

TRUE or FALSE?

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