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Multistate Taxation: Income Franchise Tax

Gain a better understanding of interstate business taxation and compliance practices.

As we approach the middle of 2018, the trend of states continuing to pursue aggressive and apportionment policies will continue. The trend indicates that 35 states now apply some form of an economic presence test for income and franchise tax purposes. Economic nexus is solely based on a corporation having sales or otherwise deriving an economic benefit from activities within their borders, regardless of a physical presence. Learn about the range of approaches different states take to tax corporations and issues to consider if a business expands into new states. Learn about the different taxing structures and how each different structure triggers nexus.

Runtime: 97 minutes
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Why Lorman?

Over 33 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

  1. S. Constitutional Authority and Limitations
    • Commerce Clause
    • Nexus
    • Due Process: Equal Protection
    • Federal Public Law 86-272
    • Exploring the Interactions Among Factor Based Nexus, and Public Law 86-272

    Franchise Tax Issues

    Income Tax Issues

    • Apportionment Formulas
      • What Factors Are Being Utilized?
      • How Are Factors Weighted?
      • How Do You Determine Whether Something Is in the Numerator of a State's Factor?
    • Uniform Division of Income Tax Purposes AC (UDITPA) §17
    • Sales Factor Sourcing Rules for Services
    • Cost of Performance vs. Market-Based Source Rules
    • Questions You Should Be Asking Your Clients
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Why Lorman?

Over 33 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

OnDemand Course

This course was last revised on August 28, 2018.

Call 1-866-352-9540 for further credit information.

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

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Why Lorman?

Over 33 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

Inez M. Mello, M.B.A.

Inez M. Mello, M.B.A.

Independent Contractor

  • Director, state and local taxes for Stowe & Degon LLC
  • Over 35 years of state and local tax experience; a seasoned tax professional, her areas of expertise include all facets of multistate and local tax planning and compliance
  • Wide breadth of state and local tax knowledge is reflected in the numerous seminars and education symposiums that she leads for associations including The Boston Tax Institute, Lorman Education Services and the Massachusetts Society of CPA’s
  • Chair of the Massachusetts Society of CPA’s State Taxation Committee and has served on CCH’s National State Tax Advisory Board and the Governing Board of the Streamlined Sales Tax Project
  • Has continued her scholastic pursuits, serving as an adjunct professor for Bryant University; she is Bryant University’s graduate multistate tax professor and received the 2016 and 2019 Graduate School of Business Award for Outstanding MST Faculty
  • Extremely well-known throughout the business community and was recognized by the U.S. Small Business Administration as the Rhode Island Women in Business Champion of the Year in 2007
  • Prior to becoming a multistate tax consultant, she has served in various director roles for several CPA firms throughout New England; in this capacity, she helped establish and grow their state and local tax practices as well as oversaw all multistate and local tax issues
  • Professional affiliations include chair of the Massachusetts Society of CPA’s State Taxation Committee; Institute of Managerial Accountants – Providence, RI Chapter past president; Rhode Island Accounting Association of Professors (RIAAP)
  • M.B.A. degree in taxation and B.S. degree in accounting, Bryant University
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Why Lorman?

Over 33 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: 404548
Published 2018
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