Course Description
Taxes are widening their scope continuously. Especially with nexus barriers continuing to get knocked down, businesses are continued to be subject to more taxes in a number of states. For instance, the sales tax system in the U.S. is complex. With numerous states, numerous sales tax rates, and a whole lot of variability, it is tough for retailers to make an efficient application of the U.S. Sales Tax. Especially the pass-through entities and their owners face difficulties - to identify where businesses and owners are required to pay and file state and local taxes - in the ever-changing morass of state tax laws and administrative policies governing nexus. This webinar attempts to demystify the sales tax system. It also avails much-needed practical advice for tax practitioners serving small & mid-size business clients.]
Tax professionals must recognize how states expand, demand, and open new and broader tax pipelines to avoid any unintended tax implications for noncompliance. This online CPE course examines where businesses are subject to state taxes and how to minimize compliance burdens. It will also help the attendees explore which states conform to federal income tax provisions and where decoupling exists.
The sales tax system in the US is complex. Therefore, identifying states in which the sales and use tax compliance are required, and how to apply state-wise tax is daunting. Inability to comply with the requirements attracts severe exposure to penalties. This course helps navigate the complexities, focusing on identifying the business purchases subject to tax and maximizing the potential of getting exemptions. This course will explore business exemptions for the manufacturing and resale of tangible personal property.
This course will examine where businesses are subject to business activity tax and how to minimize compliance burdens. The attendees will learn which states conform with federal income tax provisions and where decoupling exists.
The U.S. Supreme Court has decided several state & local tax cases recently which will shape the SALT landscape for decades to come. Apart from the Court’s holding regarding state sales & use tax collection for retailers, this decision has also changed the nexus landscape for other types of direct state taxes - at least in conjunction with state threshold legislation - including net income taxes, for service providers, manufacturers, wholesalers, and retailers. These rulings cover expanding sales tax collection for e-commerce businesses, restricting state income taxes imposed without a sufficient connection with the state, and protecting taxpayers against discriminatory taxes.
Richard Fry and Steven Dimengo, partners at Buckingham, delve deep into the subject in this CPE course on State and Local Taxes. It Covers the following Key topics:
- Planning opportunities to help & advise clients
- Determining when sales tax must be collected by remote vendors, marketplace facilitators, and Software-as-a-Service providers
- Nexus considerations for state business activity taxes
- Federal protection from net-income-based taxes under P.L. 86-272
- Taxation of pass-through entities and their owners
- How voluntary disclosure agreements and amnesty programs can absolve past tax delinquencies and facilitate future compliance
- Identify the limitations on state taxation
- To ensure you by helping that your business is not unduly burdened by state taxes
- Recognition of awareness areas to save your business from the negative impact of aggressive revenue approach from states
- To know awareness of the definition of paying a fair share of taxes
This Business Entity Tax webinar will focus on providing practical advice for tax practitioners serving small & mid-size business clients.
If you
are looking for a certified course on sales and use tax then click here: Sales and
Use Tax Fundamentals.
Learning Objectives
- To identify Federal protection from net-income-based taxes under P.L. 86-272
- To identify various Conformity with Federal Income Tax provisions
- To study the scope of common exemptions for various businesses, including manufacturers, telecommunication providers, and public utilities
- To know where sales tax applied to “business inputs” such as software-as-a-service, research / consulting services, and employment services
- To know how to use voluntary disclosure agreements and amnesty programs to absolve past tax delinquencies and facilitate future compliance
Recommended For
This IRS-Approved CE course for CPAs is recommended for EAs, AFSP, Tax Prepaspers, and other Tax Professionals desiring to learn everything about state and local tax.
Who Should Attend?
- Accountant
- Accounting Firm
- Bookkeepers & Accountants & Tax Preparers
- Business Owner
- California Registered Tax Professional
- CPA (Industry)
- CPA - Mid Size Firm
- CPA - Small Firm
- CPA in Business
- Maryland Tax Preparers
- Oregon Tax Preparers
- Tax Accountant (Industry)
- Tax Attorney
- Tax Firm
- Tax Managers
- Tax Practitioners
- Tax Preparer
- Tax Professionals
- Tax Pros
- Young CPA
