State And Local Taxation (SALT) of Federal COVID Relief Self-Study Webinar (4.5 Hours)

Overview: 

In response to COVID-19, the Federal Government passed several major relief programs, which included important tax benefits to assist businesses and individuals alike. However, not all states are treating these federal relief programs and tax benefits the same way. This self-study webinar will show how state and local authorities are dealing with federal assistance, and offer strategies on how to minimize your state and local taxes. Topics include:

  • The latest on state and local taxation
  • State and local reactions to the federal Coronavirus Aid Relief, Economic Security (CARES) Act and the American Rescue Plan Act (ARP)
  • State and Local Taxation of Pass-Through Entities post-Tax Cuts and Jobs Act (TCJA)
  • SALT Impacts of remote work environment on employers and employees
  • Planning strategies
Objective: 

To provide tax and financial professionals with the latest updates on the impact that Federal COVID relief programs have on State and Local Taxation (SALT), and supply strategies for minimizing your overall taxes.

 

SPEAKERS & PANELISTS INCLUDE:

John Garcia, Global Tax Director, InvestCloud

Jordan Goodman, State and Local Tax Partner, Horwood Marcum & Berk Chtd.

Barry Halpern, Partner, Marcum LLP

Ilya Lipin, Managing Director, State and Local Tax, BDO

Emphasis: 
  • Update on State and Local Taxation
     – Overview of state budgets
     – 2020-2021 legislative update
     – Impact on compliance and planning opportunities
  • State and Local reactions to the Federal Coronavirus Aid Relief, Economic Security (CARES) Act and the American Rescue Plan Act (ARP)
     – PPP forgiveness
     – Modifications to NOLs and business interests
     – Employee Retention Credit
     – Unemployment compensation
  • State and Local Taxation of pass-through entities post-Tax Cuts and Jobs Act (TCJA)
     – Recent legislative developments
     – Elections, compliance issues, credit mechanisms (entity vs. owners), and opportunities
  • SALT Impacts of remote work environment on employers and employees
     – Nexus, apportionment, credits, and incentives considerations
      – State Sourcing income impact
  • Bringing it all together
     – Recent case law developments
     – Risk mitigation and audit preparation
     – Tax planning opportunities

Identify the states currently most vulnerable to budgetary declines

Identify the states that received significant stimulus funds relative to their general fund budget under the ARPA

Recognize the cumulative stimulus funds received by local governments under the ARPA

Identify the terminology for states’ approach to conforming to the Internal Revenue Code

Recognize the federal tax provisions in the CAA requiring state guidance

Recognize the allowable uses of ARPA funds by the states

Identify select states’ guidance to date in reference to recent federal tax legislation

Recognize the general characteristics of the Pass-Through Entities tax

Recognize those states in which the Pass-Through Entities tax is elective

Recognize those states that have issued guidance on the implications of remote workers and their employers’ nexus

Identify the implications of remote workers as it applies to income tax apportionment on their employers
 

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