Quinn Corporation is subject to tax in States F, H, and I. Quinn’s compensation expense include the following.
Officer’s salaries are included in the payroll factor for G and I, but not H. Compute Quinn’s payroll factors for F, H, and I. Comment on your results.
Homework Answers
Answer:-
G H I Total
Salaries and wages 200000 400000 400000 1000000
Officers Salaries Nil Nil 500000 500000
TOTAL 1500000
Computing Payroll Factor Of G, H, & I
Payroll Factor of G = 200000/1500000*100
= 13.33%
Payroll Factor of H = 400000/1500000*100
= 26.67%
Payroll Factor of I = 400000/1000000*100
= 40%
Total Payroll Factor = 13.33% + 26.67% + 40%
= 80%
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