Multistate Income Tax Issues

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. Plan to attend this fast-paced class that covers developing topics in the area of nexus. Learn how nexus requirements have changed and where the state laws may be heading in the future.

Designed For

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

Major Topics

• 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: 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

Learning Objectives

• Identify changes in state statutes, regulations and case law
• Determine how the states will treat changes under the Tax Cuts and Jobs Act
• Recognize 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

Prerequisites

Experience in corporate taxation

Advanced Preparation

None

Level of Knowledge

Intermediate

Instructional Delivery Method

Group Internet Based

CPE Credit

Participants will earn 4.0 CPE credits

Field of Study

Taxes

Registration Requirement

Pre-registration is required for this event. To register, please visit our website at tx.cpa or contact our office at 800.428.0272. To receive the full CPE credit hours, you must be logged in and engaged for the duration of the program. Late arrivals and/or early departures will be captured by the submission of participant codes within the attendance monitoring application within the webinar broadcasting application.

Refunds and Cancellations

Registration changes can be made by calling 800-428-0272 or 972-687-8500 (option 2) or by emailing learning@tx.cpa. No shows forfeit the entire registration fee.

Cancellations for in-person conferences and events received at least 10 business days prior to the start of the event are eligible for a full refund. Cancellations received less than 10 business days prior to the start of the program are subject to a 50% cancellation fee due to facility, food and beverage fees being incurred.

Cancellations for webinars, webcasts, and online programs received at least five business days prior to the start of the program will be eligible for a full refund. Cancellations received less than five business days in advance of the program are subject to a 25% cancellation fee.

The Texas Society of CPAs is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of Continuing Professional Education (CPE) on the National Registry of CPE Sponsors. Boards of Accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.