Sandco Industries, Inc. does business in Florida. It also has a wholly owned subsidiary in Maryland named Brandco Industries, Inc. Excluding the amounts from the K-1 from BJS, LLC, Sandco Industries, Inc. had taxable income of $500,000 in the current tax year. Brandco Industries, Inc. had taxable income of $150,000 for [the current tax year]. The following is the breakdown of sales, property, and payroll: Sandco Industries, Inc. Brandco Industries, Inc. Sales $2,500,000 $3,000,000 Property 1,000,000 2,000,000 Payroll 800,000 1,000,000 Assume the following tax rates: FL = 15% MD = 10% TX = 6 % Tasks: Download a current Form K-1 from the IRS Website. Fill in the applicable sections and save it as a PDF. You can review the instructions to these forms at www.irs.gov. The applicable Internal Revenue code sections and treasury regulations can be researched at www.taxalmanac.com. Calculate the total state tax expense assuming All states are unitary and None of the states are unitary.