Acme Corporation has nexus in States Y and Z. Both states define taxable income as federal taxable income with the following adjustments: Deductions for expenses related to federal tax credits No deductions for expenses related to a tax credit claimed in the state Exemption for federal bond interest income No exemption for municipal interest income derived from bonds issued by other states Acme reports federal taxable income of $440,000 and claims a federal energy credit of $27,000. Acme did not deduct the $27,000 of related expenses in computing federal taxable income. Acme also claims a State Y jobs credit for $15,000 of expenditures that it deducted in computing federal taxable income. Acme reports federal interest income of $9,000 and municipal interest income from State Z bonds of $6,000. What is Acme’s taxable income subject to allocation and apportionment in State Y? Round to the nearest whole dollar amount and do not enter a dollar sign or a decimal point (e.g., enter 89, not $89.00).

USP, a domestic corporation, owns 100% of Fco, a foreign sales subsidiary located in a country with a 32% tax rate. USP sells 200,000 widgets to Fco each year. Under the arm’s length principle for establishing transfer prices, the range of acceptable transfer prices for these widget sales is between $5 and $6 per unit. If USP uses the optimal acceptable transfer price from a tax planning perspective, how much would the USP group (USP and Fco) reduce its combined current-year income taxes?

Which option below resulted in the U.S acquiring present-day Florida and the southern strip of present-day Mississippi and Alabama?

What treaty ended the War of 1812?

USP is a domestic corporation. In 20Y4, USP derives the following items of gross income: a $50,000 dividend from a French subsidiary corporation, $20,000 of interest income from a loan to a Dutch subsidiary, $40,000 of royalty income from a 50%-owned Irish corporation that does business only in Europe, a $30,000 capital gain from the sale of stock in a Brazilian corporation, and $150,000 of gross profit from export sales of goods manufactured in Florida. How much foreign source gross income does USP have in 20Y4?

What system was employed by Mexico in an attempt to populate their frontier provinces, most notably in Tejas?

Which of these Southern states remained loyal to the Union during the Civil War?

Which tribe below was NOT considered a part of the “five civilized tribes” of the early 19th century?

Who challenged the President to reveal the exact spot where “American blood on American soil” was shed in what came to be known as the “Spot Resolution”?

Which event below prompted John Calhoun to leave his position as Vice President under Andrew Jackson to retake his position in the Senate?