State & Local Taxation (SALT) Update Webinar
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 regardless of which state you live in. In this webinar, we will:
- Provide an update on what is happening at the state level, including deduction cap changes and income limitations
- Discuss updates on income tax apportionment
- Review the latest updates in SALT litigation
SPEAKERS
John Damin, Managing Director, BDO
John Garcia, Tax Director, FinTech
Tri Hoang, Principal, Tax & Business Services, Marcum
Jeff Reed, Partner, KTS Law
Objective
To provide tax and other financial 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 and deductions.
Emphasis
- Recent Important Court Cases Impacting SALT
- Restrictions Imposed by Public Law (PL) 86-272
- Nexus
– Pre-Wayfair
– Recent fact patterns
– Troubleshooting - Income Tax Apportionment for Service Providers
– Sourcing service revenue
– Legislative developments
– Recent administrative guidance
– Caselaw developments
– Tax planning takeaways - Expiring Provisions of the TCJA & the Consequences
– Qualified business income deduction (Section 199A)
– Fringe benefits
– Bonus depreciation
– Interest expense deductions
– Research and Development (R&D) expenses
– Net Operating Loss (NOL) deduction limitation
– Foreign-Derived Intangible Income (FDII)
– Global Intangible Low-Taxed Income (GILTI)
– Like-kind exchanges
– Dividends received - State-Specific Updates & Highlights
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