Multistate Income Tax Issues

Overview

Each year, states work quickly and furiously to overhaul their tax laws. As some states scramble to fund their budgets, they continue to look for additional forms of revenue. You can’t afford to ignore recent changes in state and local tax. Even tax-savvy businesses and their advisers often neglect to consider the consequences of state and local taxes. This fast-paced course covers developing topics in the area of nexus and how nexus requirements have changed and where the state laws may be heading in the future.

Highlights

• Elimination of the physical presence standard in determining nexus (Wayfair case); economic nexus for remote sellers; assisting remote sellers in determining a plan of action in states that enforce economic nexus
• Emerging compliance issues in the new sales tax economy
• Income tax (and other forms of tax); economic nexus (taxation without physical presence)
• Attributional and agency nexus; presence of intangible property
• Is P.L. 86-272 still valid?
• When to consider voluntary compliance even though the laws do not dictate a sales tax responsibility

Prerequisites

Experience in corporate taxation

Designed For

Accountants who want an update on current multistate tax issues to minimize clients’ potential state and local tax liability.

Objectives

• Recognize changes in state statutes, regulations, and case law
• Identify areas that may require additional attention for state tax planning purposes
• Recall areas that may be costly for employers or clients
• Recognize the who, what, when, and where of nexus for income and sales tax