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USP is a domestic corporation. In 20Y4, USP derives the following items of gross income: a $150,000 dividend from a French subsidiary corporation, $60,000 of interest income from a loan to a Dutch subsidiary, $120,000 of royalty income from a 50%-owned Irish corporation that does business only in Europe, a $90,000 capital gain from the sale of stock in a Brazilian corporation, and $450,000 of gross profit from export sales of goods manufactured in Florida. How much foreign source gross income does USP have in 20Y4?

P and S are domestic corporations. P owns 100% of S. P also owns 100% of F, a foreign corporation. P, S, and F are engaged in a unitary business. On a separate company basis, P has $300,000 of income, S has $100,000 of income, and F has $250,000 of income. No adjustments are required for intercompany transactions. P has nexus in State X, but S and F do not. State X uses a sales-only formula. Here are data regarding the sales of P, S, and F:   P S F Sales in State X $1,500,000 $0  $0 Sales everywhere $2,500,000 $1,500,000  $1,000,000 State X requires combined unitary reporting and allows a taxpayer member the option of computing taxable income using either a water’s-edge combination or a worldwide combination. How much higher is P’s taxable income if the income and factors of F are included in the combined unitary report?

Acme Corporation has nexus in States Y and Z. Both states define taxable income as federal taxable income with the following adjustments: Deductions for expenses related to federal tax credits No deductions for expenses related to a tax credit claimed in the state Exemption for federal bond interest income No exemption for municipal interest income derived from bonds issued by other states Acme reports federal taxable income of $440,000 and claims a federal energy credit of $27,000. Acme did not deduct the $27,000 of related expenses in computing federal taxable income. Acme also claims a State Y jobs credit for $15,000 of expenditures that it deducted in computing federal taxable income. Acme reports federal interest income of $9,000 and municipal interest income from State Z bonds of $6,000. What is Acme’s taxable income subject to allocation and apportionment in State Y? Round to the nearest whole dollar amount and do not enter a dollar sign or a decimal point (e.g., enter 89, not $89.00).

During the current year, Acme Corporation reports the following items: Inventory sales   Gross receipts derived from inventory sales $950,000 Gross profit from inventory sales $630,000 Sale of property that generated nonbusiness income   Gross receipts from sale of nonbusiness property $124,000 Net gain from sale of nonbusiness property $38,000 Fees from performing repair services related to inventory sales $175,000 Fees from performing other business services $260,000 Rents from leasing tangible business property $65,000 Royalties from licensing intangible business property $80,000 Assuming the apportionment laws of the state conform to UDITPA, what is the denominator of Acme’s sales factor?

What treaty ended the War of 1812?

Who was most responsible for brokering the Missouri Compromise in 1820?

In which slave state below were slaves NOT freed by the Emancipation proclamation of 1863?

Which option below was not a part of Hamilton’s fiscal plan?

Which tribe below was NOT considered a part of the “five civilized tribes” of the early 19th century?

Which Shawnee Chief, known as “the Prophet”, advocated for cultural separation from Whites and a return to traditional Indian culture in Prophetstown Indiana (1811)?