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Course Details

Multistate Taxation: Income Franchise Tax

Webinar: ID# 1023237
Recorded CD
Qty:
About This Course:
While many businesses focus their tax strategies on mitigating the federal income tax, many businesses are becoming aware of increased enforcement of state tax laws, especially on businesses that operate across state lines.

Rather than concentrating on the intricacies of a single tax in a single jurisdiction, this webinar will explore trends in state taxation of interstate businesses, with particular emphasis on the expanding web of information available to state tax administrators in regard to businesses operating or engaging in transactions in their states.

Tax administrators are becoming increasingly adept at mining this web to enforce tax liabilities they might previously have been unaware of. Individuals responsible for state tax compliance, individuals responsible for determining the geographic location of interstate business operations and attorneys and accountants who advise them will benefit from learning the recent and anticipated developments in these areas and steps they can take to mitigate their impact on a business' aggregate state taxes.

AGENDA

General Overview of Legal Authority for and Limitations on State Taxation
  • U.S. Constitutional Authority and Limitations
  • Commerce Clause
  • Unitary Business Principle
  • Nexus
  • Discrimination Against Foreign Commerce
  • Due Process; Equal Protection
  • Federal Public Law: 86-272
  • Exploring the Interactions Among "Factor Nexus", "Economic Nexus", and Public Law 86-272
Franchise Tax Issues
Income Tax Issues
  • Conformity to the Federal Tax Base
  • Methods of Conforming to the Federal Income Tax Base
  • Advantages and Disadvantages of Conformity
  • Nonconformity Issues
  • UDIPTA and the Multistate Tax Commission Regulations
  • The Unitary Business Principle
  • Apportionable and Nonapportionable Income
  • MTC Regulation Guidelines for Specific Types of Income
  • Specific Allocation of Nonbusiness Income
  • The U.S. Supreme Court's Approach to Determining Whether Income Is Apportionable
  • Formulary Apportionment
  • Sourcing Sales of Services: Market-Based or Cost-Of-Performance?
Other Tax Issues
  • Registration to Do Business
  • Secretary of State
  • Income and Franchise Tax
  • Sales and Use Tax
  • State Issues
  • Synopsis
  • Enforcement: Audit and Appeals
Compliance and Coming Forward
  • The Compliance Calculation: General Multistate Tax Issues - Filing Requirement
  • How to Come Forward - Voluntary Disclosure Program
About The Presenters

Inez M. Mello, M.B.A.
  • Director, State and Local Taxes for Stowe & Degon LLC
  • Serves as an adjunct professor for Bryant University, and is Bryant University’s graduate multistate tax professor
  • More than 26 years of experience in state and local taxes
  • Chair of the MA Society of CPA’s State Tax Committee
  • Member of the RI Society of CPA’s State Tax Committee
  • Serves on CCH’s National State Tax Advisory Board
  • Selected as the winner of the 2007 Rhode Island Women in Business Champion of the Year Award by the U.S. Small Business Administration
  • M.B.A. degree in taxation and B.S. degree in accounting, Bryant University
Daniel C. Waugh, Esq.
  • Principal in the law firm of Moses Afonso Ryan Ltd.
  • Provides planning and dispute resolution services relating to taxes, including sales, use, business corporation, franchise and property taxes, as well as federal income and excise taxes
  • Counsels businesses on compliance with federal and state tax laws
  • Former president of the Rhode Island Employee Benefits Council
  • J.D. degree, University of Virginia School of Law; A.B. degree, Harvard College
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Multistate Taxation: Income Franchise Tax
Available on CD format
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