Description

Do you know where your clients’ businesses have nexus? The rapidly evolving area of multistate taxation should be on the radar of business tax professionals.

Target Audience

- tax Practitioners who have clients working in numerous states.

Course Objectives

- Identify the history of the Multistate Tax Commission and Uniform Division of Income for Tax Purposes Act.

- Distinguish between income tax and sales tax nexus.

- Identify the limitations of Public Law 86-272.

- Identify the most common additions to federal taxable income.

- Identify the most common subtractions from federal taxable income.

- Apply the tests for determining business and nonbusiness income.

- Determine the components of the traditional Massachusetts formula.

Subjects

- Constitutional limits and Public Law 86-272

- Interstate activity

- Nexus, UDITPA and MTC

- Calculation of state taxable income

- Filing methods for multistate taxpayers

- Apportionment and allocation

- Multistate income tax planning

Prerequisites

Working knowledge of federal income taxation