Multistate Income Tax: Simplifying the Complexities (MIT)
Bismarck Kelly Inn
8 CPE Hours
$250 Member (AICPA member $220)
$300 Nonmember (AICPA member $270)
Add $25 after 9/14/2010
Instructor: Bruce Nelson
Multistate taxation has become one of the hottest areas in the tax arena. The recent decline in state revenues and the increased audit activity by the states means both increased problems and opportunities. Mastering both the theoretical disputes and the "nuts and bolts" of compliance is essential to success. Gain the skills necessary to navigate through this maze of multistate corporate taxation. Rapidly develop a working knowledge of both multistate tax compliance and related planning opportunities. Focus on the essentials of multistate corporate income taxation as well as the apportionment and allocation of partnership, LLC and corporate income taxes. Not only solidify the basic principles but also receive the latest update on nexus concerns, impact of e-commerce and Internet and other laws, regulations and court cases. Develop basic approaches to state income tax planning and gain crucial insight about industry- specific state laws.
Upon completion of this course, participants will be able to:
Understand the key principles of multistate taxation
Assess the impact of the latest nexus issues, laws, regulations, and court cases
Identify the effects of multistate activity
Gain insight into state tax laws affecting specific industries
Develop basic approaches to state income tax planning
Highlights:
Income tax nexus, including the constitutional issues, Public Law 86-272, and nexus through attribution, affiliation, and agency
Calculation of the state income tax base, conformity to federal taxable income, with special attention paid to state modifications
Discussion of business and non-business income
Uniform Division of Income for Tax Purposes Act (UDITPA) and the Multistate Tax Compact (MTC) with particular attention to its differences with UDITPA
Apportionment issues including the composition of the sales, property, and payroll factors
Application of unitary concept and a discussion of the various tests of unity
Filing options including separate, consolidated, and combined returns
Other topics, including state taxation of limited liability companies, foreign corporations, and intangible holding companies
Designed For: CPA firm experienced tax staff with multistate clients and private industry managers in companies with multistate activities Level: Intermediate Developer: AICPA Prerequisite: Experience in corporate taxation
