WHY ATTEND THIS COURSE?
The economic turmoil during 2008 and 2009 in the US economy is starting to fade into our memories. But significant changes in how businesses operate and consumers shop has caused a desperate search for revenue by most states. Internet commerce defies taxation under traditional concepts of nexus and situs. States have been expanding their view of nexus, especially for sales taxes, with the US Supreme Court agreeing to hear South Dakota’s appeal that is looking to upend the physical presence requirement of Quill. Recent trends in legislation and merging nexus standards for taxing sales and income are blurring the landscape for many businesses. This change in fundamentals from a “presence” based tax system to an “economic opportunity” based tax structure requires CPAs to understand state and local tax issues. Businesses need to consider restructuring themselves to minimize the multi-state tax burden. This program explains and illustrates how to avoid becoming subject to excessive state taxation. And who knows, Congress might even pass legislation that has been proposed for almost 30 years!
CPAs whose clients or employers do business or have employees in more than one state. The more states, the more this program will be beneficial. May also be suitable for public practice.
Participants will be able to:
COURSE ACRONYM: MSTB
PRESENTATION METHOD: Group-live
LEVEL OF KNOWLEDGE: Intermediate
ADVANCE PREPARATION: None
FIELD OF STUDY: Taxes/State and Local Taxes
RECOMMENDED CPE CREDIT: 8 hours
SmartPros®, A Kaplan Company and Loscalzo Institute, A Kaplan Company are registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.