The Essential Multistate Tax Update - Connecticut Society of CPAs

Overview

With the largest overhaul of the federal income tax code in 30 years and the repeal of the physical presence nexus standards for sales tax in the Wayfair case, the states are working fast and furious to overhaul their tax laws. As some states scramble to fund their budgets, they continue to look for additional forms of revenue. Plan to attend this fast-paced class that covers developing topics in state taxation, ranging from individuals to pass-through entities to corporate taxpayers. This class will focus on issues of small and middle-market companies and offer guidance for minimizing tax liability and negotiating the treacherous waters of compliance.

Objectives

Understand changes in state statutes, regulations and case law

Determine how the states will treat changes under the Tax Cuts and Jobs Act

Identify areas that may require additional attention for state tax planning purposes

Identify areas that may be costly for employers or clients

Understand the "who, what, when, and where" of nexus for income and sales tax

Highlights

Employees working in multiple states: Withholding issues (when to start and where to withhold) special issues depending on type of tax assessed in the state or locality

Emerging sales tax topics: Elimination of the physical presence standard in determining nexus (Wayfair case); economic nexus for remote sellers; assisting remote sellers in determining a plan of action in states that enforce economic nexus

Emerging compliance issues in the new sales tax economy

Income Tax (and other forms of tax): Economic nexus (taxation without physical presence)

Will states shift away from income tax and increase reliance on sales tax after Wayfair?

Treatment of Tax Cuts and Jobs Act by the states: presence of intangible property; is P.L. 86-272 still valid?

Pass-through problems: Nexus issues for interest owners

Treatment of the 199A deduction for pass through entities by states: Withholding issues

Practical considerations in dealing with multistate taxation: Dealing with state nexus questionnaires

When to consider voluntary compliance: Responsibility of officers, members, partners, and shareholders; planning ideas and opportunities; updates on pending federal legislation relative to state tax

Designed For

Accountants who want an update on current multistate tax issues to minimize clients’ potential state and local tax liability

Prerequisites

Experience in corporate taxation

Preparation

None

Notice

By registering for this program and, accordingly, receiving the eMaterials, you’re acknowledging that you understand both the copyright restrictions on your eMaterials and the CTCPA cancellation policy.

Fees

Credits

Level

Code

Vendor

Fields of Study

Leader(s):

Jeffrey Snyder, Surgent McCoy CPE, LLC

Leader Bios

Jeffrey Snyder, Surgent McCoy CPE, LLC

Jeffrey C. Snyder, CPA Jeff Snyder, CPA is president of the J.C. Snyder Co., Inc., a professional accounting firm and Jeff Snyder, CPA LLC, a tax compliance and planning firm. He has been in the accounting profession for over 33 years. Since 1996, he is also a developer and presenter of continuing professional education for CPAs and other professionals. He combines his broad knowledge of accounting and tax concepts, along with his real life experiences into an energized teaching atmosphere that motivates his students to excel in learning and understanding complex issues. He consistently receives high evaluations from course participants and has great enthusiasm for teaching and training. In 2015, he received the Surgent Outstanding Discussion Leader Award because of his consistently high evaluations for knowledge and presentation skills. In the mid-1990s, Snyder was an adjunct professor of accounting at Columbus State Community College and also led training for the American Institute of Banking. Snyder is an alumnus of The Ohio State University, where he received his undergraduate training in accounting and economics.

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