Market-Based Sourcing for State Income Taxes

Course Details

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Course Description

In their ongoing hunt for revenue and in light of greater uncertainty over funding from a Federal Government, states are more competitive with one another today than ever before. There has been a growing trend among the states to use a market-based sourcing approach, in which receipts are sourced to the states according to factors such as where the customer is located or where the services are preformed.

This market-based sourcing approach is used to apportion sales of services and intangibles, instead of the traditional three-factor formula that used a cost-of-performance method. Market-based sourcing rules can vary from state to state, and especially since many states have recently been adopting economic and factor-presence nexus, nonresident corporations are at a higher risk of taxation in many states. 

This webinar will help you assist your corporate clients by providing a practical overview of the ins and outs of market-based sourcing.

Learning objectives

  • Understand Market Based Sourcing for Services in NYS
  • Convey single-factor rule and Business Income factor rule
  • Enumerate N.Y. Tax Law Section 210-A Major Categories of Receipts (11 categories)
  • Articulate NEW Rules for sourcing other service receipts
  • Delve into remaining  Issues regarding Market-Based Sourcing for  State Income Taxes

About Presenter

DANIEL KELLY

Sr. Associate Attorney, Hodgson Russ LLP

dpkelly@hodgsonruss.com

  • Dan is a senior associate in Hodgson Russ's Tax Practice.  Licensed in both New York and Florida, Dan focuses on state and local tax matters, and regularly advises individuals and businesses on different aspects of New York State and New York City personal income tax, sales and use tax, corporate franchise tax, and several other lesser-known taxes.  While focused on tax matters, Dan often counsels clients on a wide variety of legal matters, teaming up with his colleagues in different disciplines to deliver creative, pragmatic, and efficient solutions.
  • Dan’s clients frequently rely on his guidance for: tax planning for significant liquidity events; changing or establishing state and local tax residency; income, franchise and sales tax substantial nexus issues; complex business income and earnings allocation issues; and related matters.  He has extensive experience representing taxpayers in audits conducted by several tax jurisdictions, and also represents taxpayers at various levels of tax controversy dispute resolution and appeal.

At Hodgson Russ, value means giving you more. That starts with combining experienced, innovative legal representation with a sophisticated understanding of — and respect for — our clients’ businesses. As one of the nation’s oldest law firms, with roots tracing back to 1817, we’ve been providing our brand of value to clients for longer than many firms have been in existence. Isn’t it time to expect more from your law firm?

FAQ

  • To receive CPE credit for the event, you must register for the webcast prior to the start of each program.
  • CPE is available to all eligible participants within 24 hours of each webinar.
  • You must attend complete webinar and respond to all polling questions asked during the webinar. CPE is issued on 50 minute credit hour basis.
  • This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during/after the webinar.

Refund/Cancellation Policy

For more information regarding refund, complaint and program cancellation policies, please contact our offices at 646-688-5128

In case any of the course or live webinars gets cancelled we would be refunding you the entire amount (if paid).

Reviews

4.6
(28)
75%
18%
4%
0%
4%
  • LF
    Lori Friedman , CPA
    May 27th 2020
    Excellent class, and it covered a number of timely issues.
TM
Troy Montgomery , CPA
The instructor made the class good!

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MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.

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MY-CPE LLC (Sponsor Id#: GEHNZ) has entered into an agreement with the Internal Revenue Service, to meet the requirements of 31 Code of Federal Regulations, section 10.6(g), covering maintenance of attendance records, retention of program outlines, qualifications of instructors, and length of class hours. This agreement does not constitute an endorsement by the IRS as to the quality of the program or its contribution to the professional competence of the enrolled individual. Credit earned by attendees with a PTIN will be reported directly to the IRS as required of all providers. To ensure your CPE hours are reported, update your profile in My Account to include your PTIN number. Please note: IRS CE is only mandatory for EAs and ERPAs. For all other tax return preparers, CE is voluntary

CTEC Approved

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MY-CPE LLC (Sponsor ID# : 6273) has been approved by the California Tax Education Council to offer continuing education courses that count as credit towards the annual “continuing education” requirement imposed by the State of California for CTEC Registered Tax Preparers. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, toll-free by phone at (877) 850-2832, or on the Internet at www.ctec.org.

upcoming Live CPE Webinars

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Monday, July 06, 2020 | 01:30 PM EDT View Details/Register
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Monday, July 06, 2020 | 03:00 PM EDT View Details/Register
NEW FORM 941, FORM 7200, ERC, TAX CREDITS UNDER FFCRA, & OTHER PAYROLL UPDATES IN COVID-19
Monday, July 06, 2020 | 03:30 PM EDT View Details/Register
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Tuesday, July 07, 2020 | 09:00 AM EDT View Details/Register
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  • Cost FREE
  • CPE Credits 1
  • CE Credits 1
  • IRS Course ID GEHNZ-T-00086-19-O
  • CTEC Course ID 6273-CE-0063
  • Subject Area Taxes
  • Course Level Basic
  • Instructional Method group internet based
  • Prerequisites None
  • Advanced Preparation None
  • Who should attend? Enrolled Agent Tax Attorney Tax Practitioners Accountant CPA - Small Firm CPA - Mid Size Firm CPA - Large Firm Tax Pros Tax Firm Young CPA CPA in Business Entrepreneurial CPA VP Accounts Accounts Director Tax Managers Accounting Managers
  • Handout Material Download

upcoming Live CPE Webinars

Hands-On Tax Return Workshop – Partnerships & LLCs (Form 1065)
Monday, July 06, 2020 | 09:00 AM EDT View Details/Register
QuickBooks: Year-end Procedures
Monday, July 06, 2020 | 09:00 AM EDT View Details/Register
Fundamentals of Income Taxation of Trusts & Form 1041 Planning: What Every Advisors Needs to Know
Monday, July 06, 2020 | 09:00 AM EDT View Details/Register
Measuring and Managing Customer Profitability
Monday, July 06, 2020 | 11:30 AM EDT View Details/Register
REMOTE WORKING IS WAY FORWARD TO GROW: FOR CPA FIRMS, TAX & ACCOUNTING FIRMS
Monday, July 06, 2020 | 12:00 PM EDT View Details/Register
Ethics for Arizona CPAs : Part 2 (Board of Accountancy)
Monday, July 06, 2020 | 12:00 PM EDT View Details/Register
TAX PRACTICE STANDARDS (ETHICS)
Monday, July 06, 2020 | 12:30 PM EDT View Details/Register
FRAUD ESSENTIALS: WHO? How? why? what?
Monday, July 06, 2020 | 01:30 PM EDT View Details/Register
LATEST UPDATES ON FBAR AND FATCA OBLIGATIONS FOR INDIVIDUALS AND ENTITIES (COVID-19)
Monday, July 06, 2020 | 01:30 PM EDT View Details/Register
Budgeting using Excel
Monday, July 06, 2020 | 03:00 PM EDT View Details/Register
Form 1040 Schedule C ( Updated 2020 )
Monday, July 06, 2020 | 03:00 PM EDT View Details/Register
NEW FORM 941, FORM 7200, ERC, TAX CREDITS UNDER FFCRA, & OTHER PAYROLL UPDATES IN COVID-19
Monday, July 06, 2020 | 03:30 PM EDT View Details/Register
QuickBooks: Progress Invoicing and Job Costing
Tuesday, July 07, 2020 | 09:00 AM EDT View Details/Register
Cares Act Comprehensive Update (COVID-19)
Tuesday, July 07, 2020 | 09:00 AM EDT View Details/Register
Accountant prepared a return and it is under Criminal Investigation by the IRS, Now What?
Tuesday, July 07, 2020 | 10:00 AM EDT View Details/Register