The barriers to doing business across state lines have significantly decreased in recent years. However, this creates additional issues for taxpayers and their preparers in determining where and when they have nexus in a state which would require them to file either state income tax or sales tax returns. This class will not only help equip you in learning the various ways that states define and enforce nexus but also in how to determine when your company or client has nexus in a state, thus requiring the filing of tax returns. Course materials will include the latest developments regarding the Wayfair decision.
Course ID: NXUP
Nexus Update: Latest Developments in State Income, Franchise, and Sales Taxes
- Recall what questions to ask clients to help them determine if they have nexus for income or sales tax and how to assess the answer.
- Recognize the current tax law issues.
- Identify consulting and planning alternatives for clients.
- Understand the history of nexus issues, including court cases and the new “expanded views” that states are taking
- Learn to examine the operational activities of your clients through the use of checklists and questionnaires to help them determine if they have nexus for income, franchise, and sales taxes and how to assess their nexus.
- Participate in case studies designed to give you the skills you need to determine if a client has nexus for income, franchise and sales tax
- Discuss up-to-the-minute developments in Internet sales and aggressive law changes in certain states to collect sales tax from this group
- Explore planning opportunities to avoid nexus
- Examine whether client affiliates and agents can draw your client into battle with various states
- Discuss the alternatives available once a client has determined that they have nexus in a state
DESIGNED FORCPAs in public practice who want to expand the scope of services they provide to clients and CPAs in industry who want to understand their exposure to nexus issues
FIELD OF STUDY