Problem
Plamen corporation has the following business income:
Sales of $4 million; $2,400,000 in State of Bliss;
Payroll of $900,000, $360,000 in State of Bliss;
Property of $6 million; $2,700,000 in State of Bliss.
Plamen Corporation's taxable income for State of Bliss, which uses three factors, all single weighted, is $225,000. Calculate the State of Bliss income tax using the applicable 4 percent tax rate for 2015.