Reference no: EM132619861

Question - Heliot Company operates its business in State H, which levies a 6 percent sales and use tax. This year, Heliot purchased a $685,000 item of tangible property in State K and paid $20,550 sales tax to the state. It also purchased a $927,000 item of tangible property in State L and paid $58,401 sales tax to the state. Firm H transported both items of property into State H for use in its business.

Required -

1. Compute the use tax that Heliot owes to State H for the property purchased in State K.

2. Compute the use tax that Heliot owes to State H for the property purchased in State L.