Theoretical conundrums and compliance issues
Multistate taxation has never been more relevant. This course helps you skillfully navigate the maze of corporate tax codes across jurisdictions.
Learners get fresh perspectives on:
Interstate activity and nexus Modifications to federal tax income to arrive at state taxable income Allocation and apportionment Filing methods for multistate taxpayers
By spotlighting updates on the latest state tax reforms, this course will help you develop a working knowledge of both multistate tax compliance and related planning opportunities.
Learning 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.
Major Topics
- 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
