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Earn your Salt : Comprehensive State and Local Tax

  • AFSP
  • CPA (US)
  • EA
  • Tax Preparer
  • CRTP

This Course is Also Available in Self Study (On-Demand)

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  • Course Description
  • Course Qualification
  • Presenter
  • Faq

Course Description

Course Description

Taxes are widening their scope continuously. Especially with nexus barriers continued 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 lot of variabilities, it is tough for retailers to efficiently apply 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 online CPE/CE webinar attempts to demystify the sales tax system. It also avails much-needed practical advice for tax practitioners serving small & mid-size business clients. Further, it attempts to cover noteworthy SALT developments in the following sessions:

Session 1 - MULTISTATE TAX COMPLIANCE: WHERE AND WHEN BUSINESSES ARE SUBJECT TO STATE TAXES

As nexus barriers continue to get knocked down, businesses are being subjected to taxes in more and more states. The exposure faced by those who are unable to comply can be severe. Following the seminal U.S. Supreme Court decision in South Dakota v. Wayfair, states are now able to force remote vendors and marketplace facilitators to collect sales tax. Tax professionals must recognize how states expand, demand, and open new and broader tax pipelines to avoid any unintended tax implications for noncompliance.

Furthermore, these businesses are likely also subject to business activity taxes in these states. Pass-through entities and their owners in particular face difficult state tax complexities. This course will examine where businesses are subject to state taxes and how to minimize compliance burdens. Federal P.L. 86-272 provides protection for certain businesses selling tangible personal property, but is not available for service providers. Finally, attendees will learn which states conform to federal income tax provision and where decoupling exists.

This online CPE session 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


Session 2 - SALES TAX OVERVIEW: DETERMINING THE TAX BASE AND COMMON EXEMPTIONS

The sales tax system in the U.S. is anything but simple. With 45 states (and Washington, D.C.), over 10,000 sales tax rates, and a whole lot of variability, it can be tough for retailers to make sense of U.S. sales tax.  

Sales & use tax is a quagmire for many multistate businesses, as the rules governing the tax base and exemptions vary significantly amongst states. The task of identifying states in which sales and use tax compliance is required and how to apply each state’s tax may seem daunting, but it’s not impossible. The exposure faced by those who are unable to comply can be severe.

This CE session will help businesses navigate those sales & use tax complexities, focusing on what business purchases are subject to tax and how to maximize potential exemptions. This session from the continuing education course will also explain why U.S. sales tax is so complex and helps you demystify it. Attendees will learn about common sales tax exemptions for manufacturing businesses and the resale of tangible personal property. Further, as states struggle to meet tax revenue demands, more and more services are becoming subject to tax, especially services sold to businesses.


Session 3 - BUSINESS ACTIVITY TAXES – WHERE ARE BUSINESSES AND THEIR OWNERS REQUIRED TO FILE AND PAY STATE INCOME TAXES?

Do you know whether your corporation’s activities cross state boundaries and establish a taxable presence (nexus)? Do you have the protocol in place to review and determine your multistate tax obligations? Do you have the systems in place to manage these obligations and minimize risk? Don’t wait until your company is audited to deal with the ever-changing morass of state tax laws and administrative policies governing nexus

As nexus barriers continue to get knocked down, businesses are being subjected to taxes in more and more states. The exposure faced by those who are unable to comply can be severe. Pass-through entities and their owners in particular face difficult state tax complexities. This CPE course will examine where businesses are subject to business activity tax and how to minimize compliance burdens. Federal P.L. 86-272 provides protection for certain businesses selling the tangible personal property but is not available for service providers. Finally, attendees will learn which states conform with federal income tax provision and where decoupling exists. 

With so much uncertainty in the area of business entity taxation when advising business clients, this business entity tax update webinar is a must-attend event! This Business Entity Tax CE session will focus on providing practical advice for tax practitioners serving small & mid-size business clients.


Session 4 - NOTEWORTHY SALT DEVELOPMENTS: FROM WAYFAIR AND BEYOND, REVOLUTIONARY CHANGES TO STATE TAX LANDSCAPE

The U.S. Supreme Court has recently decided on several state & local tax cases that 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 include:

  • 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, delves into the subject in this online CPE session.

This online CPE session covers the following key topics:

  • 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

Attend this CPE/CE webinar to grab the opportunity for staying updated with the subject and help your firm to achieve more with recognizing fair tax payments…! 

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
  • The scope of common exemptions for various businesses, including manufacturers, telecommunication providers, and public utilities
  • Sales tax applied to “business inputs” such as software-as-a-service, research / consulting services, and employment services
  • Using 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?

  • California Registered Tax Professional
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • CPA in Business
  • Enrolled Agent
  • 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

Course Qualification

Webinar Qualifies For

  • 4 CE Credit of Taxes for Tax Professionals (Approval No. GEHNZ-T-00406-21-O)
  • 4 CE Credit of Taxes for Enrolled Agents (EA) (Approval No. GEHNZ-T-00406-21-O)
  • 4 CPE Credit of Taxes for Certified Public Accountants (CPA-US)
  • 4 CE Credit of Federal Tax Related Matters for California Registered Tax Preparers(CRTP) (Approval No. 6273-CE-0407)
  • 4 CE Credit of Taxes for Annual Filing Season Program (AFSP)

Presenter

About Presenter

Richard Fry

Partner Buckingham

I am a business tax attorney who provides clients with trusted advice concerning significant transactions, tax planning, and difficult challenges encountered in their daily operations. My practice is focused on state and local tax compliance and controversies, including Ohio and multistate sales/use tax, commercial activity tax, and personal income tax issues. Additionally, I represent client in negotiating and drafting agreements for commercial and real estate transactions, and in federal income tax controversies with the Internal Revenue Service. 

Because of my tax background, I often advise clients on the business and tax implications related to their corporate structure and significant transactions. I take pride in understanding my clients' business needs and objectives so I can help them achieve their goals in the most beneficial, yet practical, manner. 

Also, as former Chair of the Ohio State Bar Association Taxation Committee, I have been asked to present my opinion concerning tax laws and policy to Ohio legislatures on behalf of the Bar Association. These opportunities have given me invaluable insight into the legislative process and the practical considerations that mold tax policy.

About Company

Buckingham

www.bdblaw.com/

Buckingham, Doolittle & Burroughs, LLC is a corporate law firm that counsels middle-market executives and business leaders all over Ohio and beyond. With offices in Cleveland, Akron and Canton, Ohio, Buckingham offers clients sophisticated and practical legal services. Serving the region for more than 100 years, Buckingham’s mission is to deliver meaningful experiences through the practice of law, exceed expectations in terms of service, counsel and business sense, and to offer continuous value to the industries, communities and clients they serve.

Faq

FAQs content

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  • As an accredited provider of Continuing Professional Education in the United States, myCPE online learning platform, courses, and webinars meet the requirements set forth by the Institute of Management Accountants (IMA), an IFAC Member Organization, as well as the National State Boards of Accountancy (NASBA) and the Institute of Internal Auditors (IIA), both IFAC Affiliates. As well as it has been approved by NASBA, Internal Revenue Service (IRS), Certified Financial Planner Board (CFP Board), California Tax Education Council (CTEC), Society of Human Resource Professional (SHRM), Human Resource Certification Institute (HRCI) and many more.Therefore, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable continuing education requirement as CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
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Ratings and Review

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Earn your Salt : Comprehensive State and Local Tax

$40

4 Credits

Subject Area

Taxes

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