Complying With State Taxes After South Dakota v. Wayfair Self-Study Webinar (1.5 Hours)

Complying With State Taxes After South Dakota v. Wayfair Self-Study Webinar (1.5 Hours)

CPE Credit: 1.5 Hours

Price: $60.00

NASBA Field of Study: Taxes

 

Overview

Led by BDO Managing Director, Eric Fader, this critical webinar will show you how to effectively address the state income tax impact of the US Supreme Court’s South Dakota v. Wayfair decision. Through in-depth analysis and relevant case studies, you’ll be brought up to speed on corporate income tax and gross receipts tax consequences of Wayfair, what businesses should do to ensure compliance, as well as financial reporting and ASC 740 considerations. 
 

AGENDA HIGHLIGHTS

•  Corporate Income Tax & Gross Receipts Tax Consequences of Wayfair
   – State Corporate Income Tax and Economic Presence Nexus prior to Wayfair

   – State Corporate Income Tax Economic-FACTOR Presence Nexus Statutes
   – State Corporate Income Tax Economic-FACTOR Presence Nexus Statutes’ Sales Thresholds

•  What Should Businesses Do?
   – Where am I subject to tax?
   – Significance of market-based sourcing
   – Other sales factor sourcing issues creating factor-presence nexus
   – States requiring market-based sourcing
   – What solutions are available?

•  Financial Reporting & ASC 740 Considerations
   – Wayfair, retroactivity and income/gross receipts taxes

•  Case Studies
   – Supplier, Inc.
   – Call center
   – Back office employee
   – Payroll Services Corp.
   – Throwback or no throwback
   – Foreign corporation and intercompany sales
   – Joyce or Finnigan?

 

LEARNING OBJECTIVE  To provide accounting and tax professionals with guidance on how to deal with the impact of the Wayfair
decision on state income tax and gross receipts tax.

PREREQUISITE  Working knowledge of state and local sales tax.    ADVANCE PREPARATION  None.    PROGRAM LEVEL  Overview.  
NASBA FIELD OF STUDY
  Taxes.    DELIVERY METHOD  Self-Study.

 

Detailed Learning Objectives

Identify the pre-Wayfair state trends in both physical nexus and economic nexus

Recognize South Dakota’s (and states adopting South Dakota’s) economic nexus thresholds

Recognize the ongoing role of physical nexus and its triggers

Identify the applicability of the Accounting Standards Codification to state nexus

Recognize the likely state tax environment in the years subsequent to the Wayfair decision