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Thursday, November 11, 2021 Live Webcast

Multistate Tax Update (E2111201)

9:00 AM - 4:30 PM EST

Registration: 8:30 AM EST

webcast

Vendor Platform

8.0 CPE Credits in TX

OVERVIEW

With the largest overhaul of the federal income tax code in 30 years and the repeal of the physical presence nexus standards for sales tax in the Wayfair case the states are working fast and furious 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. Multistate taxation is more complex and demanding than ever before. In addition to having their own unique tax laws, states have been more focused on enforcement. Plan to attend this fast-paced class that covers developing topics in state taxation, ranging from individuals to pass-through entities to corporate taxpayers. This class will focus on issues of small and middle-market companies and offer guidance for minimizing tax liability and negotiating the treacherous waters of compliance.

DESIGNED FOR

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

BENEFITS

  • Understand changes in state statutes, regulations and case law
  • Determine how the states will treat changes under the Tax Cuts and Jobs Act
  • Identify areas that may that may require additional attention for state tax planning purposes
  • Identify areas that may be costly for employers or clients
  • Understand the “who, what, when, and where” of nexus for income and sales tax

HIGHLIGHTS

  • The domicile dilemma: issues for individuals with homes in multiple states; traveling employees; where to withhold?
  • Emerging sales tax topics: 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)
  • Will states shift away from income tax and increase reliance on sales tax after Wayfair?
  • Treatment of Tax Cuts and Jobs Act by the states: Attributional and agency nexuspresence of intangible property; is P.L. 86-272 still valid?
  • Income-tax apportionment issues: Prevalence of the single sales factor; determining the type of property being sold; sourcing of income from intangible property and services; sourcing of service income; Market Based versus Cost of Performance
  • Pass-through problems: Nexus issues for interest owners
  • Treatment of the 199A deduction for pass through entities by states: Withholding issues; sourcing of income; taxation at the entity level
  • Practical considerations in dealing with multistate taxation: Dealing with state nexus questionnaires
  • When to consider voluntary compliance: Responsibility of officers, members, partners, and shareholders; planning ideas and opportunities; updates on pending federal legislation relative to state tax

COURSE LEVEL

Update

PREREQUISITES

Experience in corporate taxation.

ADVANCE PREPARATION

None

INSTRUCTOR

John Evanich

John L. Evanich, CPA

Surgent Professional Education

John L. Evanich, Jr., CPA, is a retired tax partner, formerly with CohnReznick, LLP -- the 10th-largest CPA firm in the country. For more than 40 years, John specialized in working with professional service businesses, LLCs, LLPs, and S corporations on tax planning and other tax matters important to them. John has represented taxpayers on hundreds of IRS appeals and court petitions. With over 40 years of experience in public accounting, John is a past president of the Connecticut Society of CPAs (CTCPA), a past member of their Board of Governors, and a former trustee of their Educational Trust Fund. He is also a former member of AICPA Council. Mr. Evanich has lectured and written extensively on tax issues, both locally and nationally. He is a member of the American Institute of CPAs. In 2015 and 2016, he received the Surgent Outstanding Discussion Leader Award because of his consistently high evaluations for knowledge and presentation skills. He has also served as chairman of many CTCPA committees, most notably the Federal Taxation, State Taxation, Public Relations, and Technical Consultation Services committees. John has also testified on tax matters of concern to middle- and upper-income taxpayers, as well as small businesses, before the Ways and Means Committee of the U.S. House of Representatives, as well as various Connecticut state legislative committees. Mr. Evanich received a bachelor’s degree in accounting with honors from the University of Bridgeport, Connecticut and completed all course work in the Master’s in Taxation program at Pace University in New York City.

PRICING

$289.00 - Member

$439.00 - Nonmember

Pre-Registration Closed

Online pre-registration for this event is now closed.

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COURSE DEVELOPER

Surgent