How much of Castle income is taxable

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Problem - Castle Corporation conducts business in States 1, 2, and 3. Castle's $630,000 taxable income consists of $555,000 apportionable income and $75,000 allocable income generated from transactions conducted in State 3. Castle's sales, property, and payroll are evenly divided among the three states, and the states all employ a three-equal-factors apportionment formula. How much of Castle's income is taxable in:

a. State 1?

b. State 2?

c. State 3?

d. Express your computation as a Microsoft Excel formula that will provide the correct solution for all three states.

Reference no: EM132664113

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