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Sandco Industries, Inc. does business in Florida. It also has a wholly owned subsidiary in...

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Accounting

Sandco Industries, Inc. does business in Florida. It also has a wholly owned subsidiary in Maryland named Brandco Industries, Inc. Excluding the amounts from the K-1 from BJS, LLC, Sandco Industries, Inc. had taxable income of $500,000 in the current tax year. Brandco Industries, Inc. had taxable income of $150,000 for [the current tax year].
The following is the breakdown of sales, property, and payroll:
Sandco Industries, Inc.
Brandco Industries, Inc.
Sales
$2,500,000
$3,000,000
Property
1,000,000
2,000,000
Payroll
800,000
1,000,000
Assume the following tax rates:
FL =15%
MD =10%
TX =6%
1. Calculate the total state tax expense assuming:
~All states are unitary and
~None of the states are unitary.

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