Author Question: South Dakota is the location for many national banks' credit card operations. How much income tax ... (Read 88 times)

Evvie72 · **on:** Jun 24, 2018

South Dakota is the location for many national banks' credit card operations. How much income tax could the state of South Dakota collect on the banks that operate their credit card divisions there?
A) South Dakota could collect tax on the banks' full income.
B) South Dakota cannot collect income tax unless the banks are headquartered or incorporated there.
C) South Dakota cannot collect any income tax from foreign corporations.
D) South Dakota can collect income taxes from earnings on the credit card operations.

Question 2

NAFTA applies only to goods that originate in the U.S., Mexico, and Canada.
Indicate whether the statement is true or false