nv based real estate developer rents undeveloped piece W r i t i n g

nv based real estate developer rents undeveloped piece W r i t i n g

I’m working on a accounting question and need an explanation and answer to help me learn.

1) California has enacted a new law creating an economic nexus threshold for remote sellers and marketplace facilitators. What amount of sales in California establishes economic nexus?

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If Florida resident has nexus with California, which California tax return this taxpayer needs to file:

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3) What taxpayer’s activities create California nexus?

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4) In which of the following situations California nexus is NOT created :

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5) With respect to the tax liabilities of group members for businesses filing under he unitary rule in California:

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6) A three-part unitary group test used for determining the existence of a unitary business is looking at:

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7)The California unitary group generally files:

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8)Apportionment is a process of measuring business activity in each state of a multistate business and using formula to divide the income into amounts to be taxed by the various states. Which item on Revenue or Expense is always included in the calculation of apportionment?

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9) Allocation is a process of assigning non-business income to the various states. Generally, on what basis non-business income is allocated to a state?

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10) If you are doing business in California, you are subject to CA tax laws. California considers a taxpayer “doing business” in CA if the taxpayer meets which of the following:

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11) In determining residency, California law provides two presumptions. The first presumption is that a taxpayer who, in the aggregate, spends more than A months of a taxable year in California will be presumed to be a California resident. The second presumption is that an individual whose presence in California does not exceed B months within a taxable year and who maintains a permanent home outside California is not considered a California resident provided the taxpayer does not engage in any activity or conduct within the State other than as a seasonal visitor, tourist, or guest.

What is correct answer for A and B?

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12) For how many days any individual domiciled in California could be absent from the state for an uninterrupted period under an employment-related contract to be considered outside this state for other than a temporary or transitory purpose

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13) What features does the employment related contract has to possess to satisfy and meet the non-residency rules of CA R&TC?

It has to be:

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14) Generally, community income is income from:

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15) Which one is an option for taxpayers to sort out any separate property claims from the community property?

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