1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
grandymaker [24]
2 years ago
5

Mighty Manny, Incorporated, manufactures ice scrapers and distributes them across the midwestern United States. Mighty Manny is

incorporated and headquartered in Michigan. It has product sales to customers in Illinois, Indiana, Iowa, Michigan, Minnesota, Wisconsin, and Wyoming. It has sales personnel only in the states discussed and all these states have adopted Wayfair legislation. Determine the state in which Mighty Manny does not have sales tax nexus given the following scenarios:
A. Mighty Manny has sales personnel that visit Minnesota. These sales employees follow procedures that comply with Public Law 86-272. The orders are received and sent to Michigan for acceptance. The goods are shipped by FedEx into Minnesota.
B. Mighty Manny provides design services to another manufacturer located in Wisconsin. While the services are performed in Michigan, Mighty Manny's designers visit Wisconsin at least quarterly to deliver the new designs and receive feedback.
C. Mighty Manny receives online orders from its Illinois client. Because the orders are so large, the goods are delivered weekly on Mighty Manny's trucks.
D. Mighty Manny's trucks drive through Nebraska to deliver goods to Mighty Manny's customers in other states, but the company has no Nebraska sales.
Business
1 answer:
Alex787 [66]2 years ago
7 0

Answer:

Determination of the state in which Mighty Manny does not have sales tax nexus:

A. No sales tax nexus in Minnesota, under given scenario.

B. No sales tax nexus in Wisconsin, under given scenario.

C. Sales tax nexus may exist because of the large orders.  It may approach the sales threshold of more than $100,000 worth.

D. No sales tax nexus in Nebraska, with trucks driving through to other sales.

Explanation:

Might Manny is incorporated and headquartered in Michigan, according to this case.  So, it has sales tax nexus in Michigan for its physical presence and sales.

Sales tax nexus describes the factors that can make a state to impose sales taxes on a business.  The factors that establish sales tax nexus are a) certain business activities, b) physical presence, and c) approaching a certain sales threshold of either 200 transactions or $100,000.

Some states that have adopted the Wayfair legislation determine sales tax nexus with the above mentioned sales threshold of 200 transactions or $100,000.  California's sales threshold is $500,000.

However, Public Law 86-272 or Interstate Income Act of 1959 forbids states from imposing unnecessary sales tax burdens on businesses soliciting for sales in their states without physical presence, provided the orders are filled or shipped from outside the said state.  But, some of them rely on the Wayfair legislation, as it allows them some leverage to impose sales tax without physical presence of the business.

You might be interested in
Each individual firm will maximize its profits or minimize losses by hiring a specific type of labor up to the point where the m
Talja [164]

Answer:

equal is the correct answer.

Explanation:

4 0
2 years ago
If the United States falls into a recession, which action would the Federal Reserve take to encourage employment?
gayaneshka [121]

Answer:

A. Buy government securities.

Explanation:

7 0
3 years ago
Read 2 more answers
16. GDP Growth Consider the following data on U.S. GDP: Year GDP (Billions of current dollars) (Billions of 2009 dollars) 2011 1
dmitriy555 [2]

Answer:

The percentage change in nominal GDP from 2013 to 2014 was 4.29%

The percentage change in real GDP from 2012 to 2013 was 1.48%

The percentage change in real GDP from 2012 to 2013 was higher than the percentage change in real GDP from 2011 to 2012. FALSE

Explanation:

In order to calculate this we just have to calculate the percentages with a rule of thirds:

\frac{GDP1}{100}= \frac{GDP2}{x}

To calculate the first one we use the nominal GDP which is the GDP with the current market value:

\frac{GDP1}{100}= \frac{GDP2}{x}\\\frac{16,663.2}{100}= \frac{17,348.1 }{x}\\x=\frac{(100)(17,348.1}{16,663.2} \\x=4.29%

To calculate the change in real GDP we use the values adapted to a pre-agreed monetary value, in this case the dollar at 2009:

\frac{GDP1}{100}= \frac{GDP2}{x}\\\frac{15,354.6}{100}= \frac{15,583.3}{x}\\x=\frac{(100)(15,583.3}{15,354.6} \\x=1.48%

To calculate the 2011 to 2012 we insert the values:

\frac{GDP1}{100}= \frac{GDP2}{x}\\\frac{ 15,020.6}{100}= \frac{15,354.6}{x}\\x=\frac{(100)(15,354.6}{ 15,020.6} \\x=2.22%

So with this we know that it is wasn´t higher the percentage change from 2012-2013, than that of 2011-2012

5 0
3 years ago
Which statement is not true about the minimum wage?
Kobotan [32]
Owners are not required to pay it to foreign works is incorrect option
5 0
3 years ago
A customer invests $100,000 in a real estate limited partnership. In the first year of operations, the investor is allocated $20
nata0808 [166]

Answer:

-$130,000

Explanation:

The computation of the net loss deducted from his return is shown below:

= Income - interest deductions - operating expenses - depreciation expenses

= $20,000 - $80,000 - $45,000 - $25,000

= $20,000 - $150,000

= -$130,000

Since the value comes in negative which reflects the net loss for the year

We simply deduct the revenues from the expenses so that the net income or net loss could come

3 0
3 years ago
Other questions:
  • Suppose company a wants to develop a program that duplicates the functionality of a program made by company
    14·1 answer
  • On December 31, 2017, Beta Company had 320,000 shares of common stock issued and outstanding. Beta issued a 7% stock dividend on
    14·1 answer
  • Mary Beth has written a novel. Copyright protection regarding her work will be for:
    6·1 answer
  • On the grant date, January 1st, 2015, the stock was quoted on the stock exchange at $63 per share. The fair value of the options
    8·1 answer
  • 22. Find the effective rate of interest to the nearest hundredth percent if $60.94 is earned in one year on a deposit of
    5·1 answer
  • Liquidity is best defined as the ease of converting an asset into cash. the direct exchange of goods and services for other good
    12·1 answer
  • You are valuing an investment that will pay you $28,000 per year for the first 4 years, $43,000 per year for the next 12 years,
    10·1 answer
  • What would you like to be when you grow up?
    11·1 answer
  • if the federal reserve decided to include virtual money like bitcoins in its measure of the money supply, what would be the effe
    5·1 answer
  • Overuse of the priority flag by a business email sender can lead to a reputation as?
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!