Earn Your Salt : Comprehensive State And Local Tax

  • Accountant
  • AFSP
  • CRTP
  • CPA (US)
  • EA
  • ORTP
  • MRTP
  • CFIRS
  • CWS

Published: October, 2021

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Before starting this self study program, please go through the instructional document.

  • Course Description
  • Course Qualification
  • Presenter
  • FAQ

Course Description

Overview

  • Commerce Clause Protection
    3 mins
  • Tax Collection for Service Providers
    19 mins
  • Pass-Through Entity Withholding Tax
    40 mins
  • Expansion of Sales Tax Collection Obligation
    64 mins
  • Marketplace Facilitators Required to Collect Tax
    91 mins
  • U.S Constitutional Considerations
    110 mins
  • COVID-19 Relief
    138 mins
  • Discriminatory Tax - Internal Consistency Test
    166 mins
  • Pass-Through Entity Withholding Tax
    189 mins

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 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.

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 Online CPE/CE webinar is recommended for CPAs and Enrolled Agents who are involved in Tax Planning for their clients
  • This online Continuing Education IRS approved webinar is recommended for AFSPs, CEOs, CFOs, COOs, Business owners and Other Tax Professionals & their staff members who wants to better serve the Sales Tax needs of their clients

Who Should Attend?

  • Accountant
  • Accounting Firm
  • Accounting Managers
  • Accounting Practice Owners
  • Bookkeepers & Accountants & Tax Preparers
  • Certified Public Accountant (CPA)
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • CPA in Business
  • Entrepreneurial CPA
  • Oregon Tax Preparers
  • Senior Accountant
  • Staff of Accounting Firm
  • Tax Accountant (Industry)
  • Tax Attorney
  • Tax Director (Industry)
  • Tax Firm
  • Tax Managers
  • Tax Practitioners
  • Tax Preparer
  • Tax Professionals
  • Tax Pros
  • Young CPA

Course Qualification

Webinar Qualifies For

  • 4 CE Credit of Federal tax-related matters for Enrolled Agents (EA) (Approval No. GEHNZ-T-00406-21-S)
  • 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 Federal tax-related matters for Annual Filing Season Program (AFSP)
  • 4 CE Credit of Federal tax-related matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-00406-21-S)
  • 4 CE Credit of Federal tax-related matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-00406-21-S)
  • 4 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
  • 4 CE Credit for Certified Wealth Strategist (CWS)
  • 4 General Credit for Accountant/Bookeeper

Additional details

  • Course Level :
    Basic
  • Credits :
    4
  • Instructional Method :
    QAS Self Study
  • Pre-requisites :
    None
  • Advance Preparation :
    None

IRS APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

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.

NASBA APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

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.

CTEC APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

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.

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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  • Our courses meet the global Continuing Professional Development (CPD-IES7) Standard for Chartered Accountants with International Education Standard 7 (IES 7) set by The International Federation of Accountants (IFAC), the International Accounting Education Standards Board (IAESB) and the Association of Chartered Certified Accountants (ACCA). Based on our accreditation by existing IFAC members and affiliates, 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 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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  • 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.
  • myCPE Courses are taken by : CPA | CMA | CFE | CIA | CPA(Yellow Book)| CFP | CFA | CPA (Govt.) | EA | CRTP | MRTP | ORTP | ABV | CITP | CVA | PFS | CFF and others.

Ratings and Review

4.1

50 Ratings

Excellent

20

Very Good

18

Average

11

Poor

0

Terrible

1

MK

Michael Kurek, CFE, CPA (US)

Dec 26th, 2021

Tax is not my strong point and this was a great webinar on the topic.

PG

Paul Gagliano, CPA (US)

Jun 30th, 2021

Good

CR

Charles Roscopf, CPA (US)

Apr 27th, 2022

Material was organized in an odd fashion. Quiz questions were terribly worded and confusing. Took way too many tries to pass the quiz.

EO

Ed Outlaw, CPA (US)

Dec 9th, 2021

The 4 hours was a cut and paste of different sessions so there was a lot of repeated information. The Quiz questions are TERRIBLE - they are written in extremely poor english, some do not have a connection to what was in the lectures, and many do not make any sense.

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