- NY Credits : 7.0
- TX Credits : 7.0
- IRS Enrolled Agent Credits : Federal Tax/Tax Related Matters - 7.0
This course provides you with the statutory and historical basis for the preparation of state income tax returns for multistate corporations through examples and court rulings. Learn about apportioning income to the states using the three-factor apportionment formula. Calculate the property, payroll, and sales factors. Consider the impact on multistate taxation of the Uniform Division of Income for Tax Purposes Act (UDITPA), PL 86-272, the Multistate Tax Commission, and the Streamlined Sales and Use Tax Agreement (SSUTA). The course also covers state sales tax nexus and the different approaches for sales and use tax nexus and legislation submitted recently. This course focuses on the development of in-depth knowledge, skill, and application of multistate taxation. As an advanced level course, this course is most beneficial for the professional with mastery of multistate taxation who may be an experienced professional within an organization but also may be appropriate for other professionals with specialized knowledge in multistate taxation.
Upon successful completion of this course, the user should be able to:
recognize the calculation and apportionment of income,
determine the sales factor and nonbusiness income,
identify tax nexus,
recognize filing options and sales tax issues, and
recognize current issues in state taxation.