Course ID: MSTB

Multi-State Taxation of Business

Recent economic turmoil in the United States economy has caused a desperate search for revenue by most states. Internet commerce defies taxation under traditional concepts of nexus and situs. Decisions by the U.S. Supreme Court, and various state courts, combined with revenue initiatives by desperate states, require CPAs to understand state and local tax issues and know how to structure a business taxpayer’s affairs to keep the multi-state tax burden as low as possible. This program explains and illustrates how to avoid becoming subject to excessive state taxation.


LEARNING OBJECTIVES
  • Understand key terms and concepts in multi-state tax planning and compliance
  • Compute state income under a variety of taxing systems
  • Recognize the need for different planning approaches for different taxing systems
  • Properly apportion income when state tax systems are not the same: Unitary vs. Single entity, “Commercial Nexus,” variants of three factor formula, and integrated business vs. investment
  • Properly account for property, payroll and sales
  • Restructure entities to reduce taxes
  • Comply with sales/use tax rules without overpaying tax
  • Work with states administrative rules, audit procedures and statutes of limitation

MAJOR TOPICS
  • Nexus, Situs and internet commerce
  • Relationship to federal taxation
  • Common differences federal vs. state
  • Three factor formula and common variations
  • Unique tax systems
  • Tax issues involving intellectual property sales across state lines
  • Taxation of Internet Based Transactions
  • Sales and use taxes
  • Multistate Tax Commission initiatives
  • Filing rules and audit procedures
  • Current developments in Multi-state taxation

DESIGNED FOR
CPAs whose clients or employers do business in more than one state. The more states . . . the more this program will be beneficial.

FIELD OF STUDY
Taxes

PREREQUISITES
None

COURSE PRODUCER
Nichols Patrick CPE, Inc

CPE CREDITS
8.0

LEVEL
Intermediate

This course is available for your group as:

Group Live
 

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