Multistate Income Tax: Simplifying the Complexities [MIT Anc]

Full Description

Multistate Income Tax: Simplifying the Complexities

August 5, 2010
Anchorage, Alaska

$295 AKCPA Member Fee
$370 Non Member Fee
$30 Discount for AICPA Members

Multistate taxation has become one of the hottest areas in the tax arena. The recent decline in state revenues and the increased audit activity by the states means both increased problems and opportunities. Mastering both the theoretical disputes and the nuts and bolts of compliance is essential to success. Gain the skills necessary to navigate through this maze of multistate corporate taxation. Rapidly develop a working knowledge of both multistate tax compliance and related planning opportunities. Focus on the essentials of multistate corporate income taxation as well as the apportionment and allocation of partnership, LLC and corporate income taxes. Not only solidify the basic principles but also receive the latest update on nexus concerns, impact of e-commerce and Internet and other laws, regulations and court cases. Develop basic approaches to state income tax planning and gain crucial insight about industry-specific state laws.

Objectives
Upon completion of this course, participants will be able to:
Understand the key principles of multistate taxation
Assess the impact of the latest nexus issues, laws, regulations and court cases
Identify the effects of multistate activity
Gain insight into state tax laws affecting specific industries
Develop basic approaches to state income tax planning

Highlights
Income tax nexus, including the constitutional issues; Public Law 86-272; and nexus through attribution, affiliation and agency
Calculation of the state income tax base and conformity to federal taxable income, with special attention paid to state modifications
Discussion of business and non-business income
Uniform Division of Income for Tax Purposes Act (UDITPA) and the Multistate Tax Compact (MTC) with particular attention to its differences with UDITPA
Apportionment issues including the composition of the sales, property and payroll factors
Application of unitary concept and a discussion of the various tests of unity
Filing options including separate, consolidated and combined returns
Other topics, including state taxation of limited liability companies, foreign corporations and intangible holding companies

Who Will Benefit
CPA firm experienced tax staff with multistate clients
Private industry managers in companies with multistate activities

Level: Intermediate

CPE Credit Hours: 8 (Accepted for CMA and CFM continuing education credit)

NASBA Field of Study: Taxes

Prerequisite: Experience in corporate taxation

Acronym: MIT
Discussion Leader: Bruce Nelson MA, CPA
Ehrhardt, Keefe, Steiner & Hottman, P.C. / Denver, CO

Bruce M. Nelson is a CPA with the firm of Ehrhardt, Keefe, Steiner & Hottman, P.C. Prior to joining EKS&H he practiced as a CPA with Silverstein & Pomerantz. Bruces experience also goes back to two years as the Manager of Tax Policy at the State of Colorado.

Before that, he was a Senior Tax Manager for several years in a Big Four accounting firm, where he ran the state and local tax desk. Bruce earned his B.A. degree from the University of Nebraska-Lincoln and a Masters degree from Colorado State University and is a licensed CPA Colorado. He is on the adjunct faculty for Regis University where he teaches courses in individual, partnership, and corporate taxation. He is a frequent seminar speaker teaching continuing education in state and local tax for the University of Denvers Graduate Tax Program, the Colorado Society of CPAs, and the American Institute of CPAs.

Bruce has published more than forty tax articles in many publications including the Journal of Accountancy, Tax Executive, Controller Magazine, the Journal of Multistate Taxation, State Tax Notes, and Colorado Lawyer. Bruce is the author of AICPAs CPE courses Multistate Income Tax: Simplifying the Complexities and also Sales and Use Tax: Guide to Doing it Right. A former columnist for the Journal of State Taxation, he is also the co-author of the Sales and Use Tax Answer Book and co-editor of the Guidebook to Colorado Taxes, both published by Commerce Clearing House. He is a member of the American Institute of Certified Public Accountants and the Colorado Society of Certified Public Accountants.

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