State & Local Taxation (SALT) Update Self-Study Webinar (4.5 Hours)

Overview: 

Aspects of State And Local Taxation (SALT) have undergone recent changes that require even the most discerning financial professionals to need assistance in remaining properly informed. Understanding SALT deductions remains crucial in states where taxes remain high. In this self-study webinar, we will:

  • Provide an update on what is happening at the state level, including surplus spending and corporate tax breaks
  • Discuss the impact of remote work on local and state taxation
  • Review the latest updates in SALT litigation
     
Objective: 

To provide CPAs and tax professionals with an update on the latest developments in state and local taxation. It will focus on income and franchise taxes, sales taxes, property taxes, NEXUS challenges, and other potential tax exposures.

Detailed Learning Objectives
Emphasis: 
  • A state-by-state review of tax legislations
     – Focus on individual and corporate relief
     – Taxpayer favorable base changes
  • Revisions to the MTC Uniformity Committee’s statement on PL 86-272
  • Benefits and challenges of working remotely
  • Potential additional corporate state income tax filings due to employees working remotely
  • Determining specific state tax exposure, opportunities for risk mitigation, and state initiatives in order to address issues created by remote work
  • Review the state tax implications of capitalizing research and development expenses, including software development, for US federal income tax under IRC section 174
  • National litigation updates related to state and local taxation
     – Pre-Wayfair nexus and Post-Wayfair challenges
     – Apportionment—back door market sourcing, direct costs, and property factor
     – Digital advertising
     – Sales tax base
     – Unclaimed property updates

    •  

• Identify the core assumptions behind nexus

• Recognize the current scope of state taxing authority towards multistate businesses

• Recognize the limitations on a state’s ability to impose a tax on a business

• Identify selected unprotected activities as promulgated in the MTC

• Recognize the Supreme Court case requiring physical presence for nexus with a state under the Commerce Clause

• Recognize the core assumptions behind the unitary business principle

• Identify the primary decisions made by the courts in selected cases addressing state and local taxation of businesses

• Identify the states not currently following federal tax law under IRC Section 174

• Recognize the current issues surrounding the Pass Through Entity Tax (PTET)

 

Bottom
Price: 
$229.00
Prerequisite: 

Basic knowledge of business taxation.

Preparation: 

No advance preparation required.

Level of Knowledge: 

Intermediate.

CPE Credit: 
4.50
NASBA Field of Study: 
Taxes