Carolina's Hats Apportionment Factors in North and South Carolina
What are Carolina's Hats North and South Carolina apportionment factors?
If North Carolina uses an equally weighted three-factor formula and South Carolina uses a double-weighted sales factor formula.
Answer:
North Carolina 74.03%
South Carolina 20.22%
Explanation:
To determine Carolina's Hats North and South Carolina apportionment factors, we need to calculate based on the formulas used by each state.
For North Carolina, they utilize an equally weighted three-factor formula, giving equal weight to sales, payroll, and property. Therefore, the North Carolina apportionment factor is calculated by averaging the percentages: (75.03% + 68.62% + 78.45%) / 3 = 74.03%.
On the other hand, South Carolina employs a double-weighted sales factor formula, where the sales factor carries twice the weight of the other factors. The South Carolina apportionment factor is calculated as (2*22.51% + 21.28% + 14.56%) / 4 = 20.22%.
Hence, the finalized North Carolina and South Carolina apportionment factors for Carolina's Hats are 74.03% and 20.22% respectively.