LeMond Incorporated, a Wisconsin corporation, runs bicycle tours in several states. LeMond also has aWisconsin retail store and an Internet store that ships to out-of-state customers. The bicycle tours operatein Colorado, North Carolina, and Wisconsin, where LeMond has employees and owns and uses tangiblepersonal property. LeMond has real property only in Wisconsin and logs the following sales:StateArizonaCaliforniaColoradoNorth CarolinaOregonWisconsinTotalsStateArizonaCaliforniaColoradoLeMond SalesNorth CarolinaOregonWisconsinGoods$ 34,194110,61225,91316,72115,431241,982$ 444,853Sales andUse Tax$ServicesAssume the following hypothetical tax rates: Arizona (5.6 percent), California (7.75 percent), Colorado (8percent), North Carolina (6.75 percent), Oregon (no sales tax), and Wisconsin (5 percent). How much salestax must LeMond collect and remit, assuming these states, have adopted Wayfair legislation?Note: Round your final answers to the nearest whole dollar amount. Leave no answer blank. Enter zeroif applicable.2,030$00356,084225,3270877,441$ 1,458,852Total$ 34,194110,612381,997242,04815,4311,119,423$ 1,903,705

Answered: LeMond Incorporated

Business

Accounting

LeMond Incorporated

SWFT Comprehensive Vol 2020

43rd Edition

ISBN:9780357391723

Author:Maloney

Publisher:Maloney

Chapter25: Taxation Of International Transact Ions

Section: Chapter Questions

Problem 37P

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LeMond Incorporated, a Wisconsin corporation, runs bicycle tours in several states. LeMond also has a Wisconsin retail store and an Internet store that ships to out-of-state customers. The bicycle tours operate in Colorado, North Carolina, and Wisconsin, where LeMond has employees and owns and uses tangible personal property. LeMond has real property only in Wisconsin and logs the following sales: State Arizona California Colorado North Carolina Oregon Wisconsin Totals State LeMond Sales Arizona California Colorado North Carolina Oregon Wisconsin Goods $ 34,194 110,612 25,913 16,721 15,431 241,982 $ 444,853 Sales and Use Tax Services Prev $0 0 356,084 225, 327 0 Assume the following hypothetical tax rates: Arizona (5.6 percent), California (7.75 percent), Colorado (8 percent), North Carolina (6.75 percent), Oregon (no sales tax), and Wisconsin (5 percent). How much sales tax must LeMond collect and remit, assuming these states, have adopted Wayfair legislation? Note: Round your final…
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