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Online Manual

Texas Franchise Tax

Discover strategies for managing Texas franchise tax and explore 2013 legislative initiatives. Avoid errors, omissions, and overpayments with a comprehensive understanding of Texas franchise tax. Purchase these reference materials and you will learn how to navigate common pitfalls, prevent costly mistakes, and keep your organization audit-ready. Learn what revenues and costs businesses need to track and monitor in order to maximize their Texas state tax benefits. Discover what considerations to keep in mind when planning for commonly-owned entities. Come learn about an ever-changing tax that’s filled with exemptions, deductions and preferences ??" promising to keep CPAs busy for years to come. Benefits for You •Easily determine who pays ??" and who doesn’t •Explore industry preferences and examples •Find out about combined reporting •Get practical tips on contesting audits Learning Objectives •You will be able to explain calculating and reporting margin tax. •You will be able to discuss computing revenue. •You will be able to identify how to deduct compensation. •You will be able to describe how to deal with franchise tax audits and controversies.
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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Overview of the Franchise (Margin) Tax
  • Franchise Tax Background
  • Taxable, Nontaxable and Exempt Entities
  • Passive Entities
  • Jurisdiction and Venue
  • Statute of Limitations
Calculating and Reporting Margin
  • Computation and Credits
  • 2013 Legislative Changes
  • Alternative Calculation Methods
  • Combined and Tiered Reporting
  • Reporting Periods and Deadlines
Computing Revenue
  • Federal Tax References
  • General Exclusions
  • Industry Exclusions
  • Combined Revenues
Deducting Costs of Goods Sold
  • Identifying Goods
  • Eligible Entities
  • Costs Eligible for Deduction
Deducting Compensation
  • Eligible Payments for Deduction
  • Identifying Compensation and Benefits
  • Management Companies
  • Professional Employer Organizations
Apportioning Margin
  • Single Factor Apportionment
  • Texas and Total Receipts
  • Combined Apportionment
  • Apportionment Examples
Combined Reporting
  • Affiliated Entities
  • Unitary Business
  • Related Foreign Entities
  • Combined Reporting Examples
Franchise Tax Audits and Controversies
  • Preparing for Audits
  • Managing Audits and Controversies
  • Choices in Contesting Audits
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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

Online Manual

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Christina A. Mondrik, Esq., CPA

Christina A. Mondrik, Esq., CPA

Mondrik & Associates

  • Board Certified in Tax Law by the Texas Board of Legal Specialization
  • Founder of Mondrik & Associates
  • State and Federal Tax Controversies and Litigation
  • Conducts regular seminars and workshops on state and federal tax
  • B.B.A. degree in accounting, University of Texas at Austin; J.D. degree, University of Texas School of Law
  • Chair, Federal Tax Policy Committee, Texas Society of CPAs
  • Secretary, Texas State Bar Tax Section
  • Sales and Use Tax Subcommittee Chair, State and Local Tax Committee, ABA Section of Taxation
  • Can be contacted at [email protected] or (512) 542-9300
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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Product ID: 391944
Published 2013
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