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Multistate Tax Update: Nationwide Nexus Expansion & Significant Compliant Developments For Vendors

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

Published: June, 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

  • Sales/Use Tax Basics
    4 mins
  • Marketplace Facilitators Required to Collect Tax
    16 mins
  • Exemption Certificate Rules to Know
    22 mins
  • What if no exemption certificates upon commencement of audit?
    30 mins
  • Non-Sales Tax Ramifications
    41 mins
  • SALT Cap Workaround
    51 mins

Course Description

The U.S. Supreme Court's decision in South Dakota v. Wayfair drastically changed the rules governing when a state could require an out-of-state business to comply with its sales tax laws. In response, nearly every state that imposes a general sales tax has enacted new rules to adopt and impose an “economic nexus” standard for sales tax compliance purposes. And while the concept of “economic nexus” has been around for several years in the corporate income tax world, this concept now permeates and has broadened nearly all aspects of tax compliance. During this online continuing education course, we’ll discuss the significant overlap, as well as the stubborn distinctions, between nexus rules for income tax and sales tax purposes. And we will review key recent developments in multistate income and sales tax compliance.

Beyond sales tax collection, states are facing revenue shortfalls from the pandemic and becoming more aggressive in enforcement of other taxes as well. Multistate businesses face substantial complexities with understanding where and which states taxes they must comply with. 

This online CPE/CE Course will examine these complexities to help you identify where state tax obligations exist and potential avenues for minimizing compliance burdens.  

Key topics covered in this online CPE/CE webinar:

  • Sales Tax: Wayfair, a Practical Approach
  • Sales Tax: Marketplace Providers and Multistate Sourcing Rules
  • Corporate Income Tax & Telecommuting in this Changed Landscape
  • Nexus, UDITPA, MTC
  • Calculation of state taxable income
  • Filing methods for multistate taxpayers
  • Apportionment and allocation
  • Multistate income tax planning

The online CPE webinar will be very helpful for CPAs, EAs, and other tax professionals as they will gain invaluable guidance on advising clients.

You may be interested in the following related webinars:

  1. Business tax webinars
  2. Individual tax update webinars

Learning Objectives

  • To determine where sales tax nexus exists and how to comply with multistate sales tax collection obligations
  • To evaluate when other state businesses are subject to taxes outside their home state
  • To discuss when services are subject to sales tax, especially for providers of Software-as-a-Service and web-based services
  • To discuss various cutting edge planning opportunities to avoid or minimize state tax obligations
  • To elaborate how voluntary disclosure agreements and amnesty programs can absolve past tax delinquencies and facilitate future compliance

Recommended For

This online CPE/CE webinar is recommended for any Tax Professionals, or their Staff Members seeking an understanding of Income and Sales tax nexus.

Who Should Attend?

  • Accountant
  • Accounting Firm
  • Accounting Managers
  • Bookkeepers & Accountants & Tax Preparers
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • CPA in Business
  • Entrepreneurial Accountant
  • Entrepreneurial CPA
  • Maryland Tax Preparers
  • 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

  • 1 CE Credit of Federal Tax Law Update for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-0541)
  • 1 CE Credit of Federal Tax Law Update for Enrolled Agents (EA) (Approval No. GEHNZ-U-00563-21-S)
  • 1 CPE Credit of Taxes for Certified Public Accountants (CPA-US)
  • 1 CE Credit of Federal Tax Law Update for Annual Filing Season Program (AFSP)
  • 1 CE Credit of Federal Tax Law Update for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-U-00563-21-S)
  • 1 CE Credit of Federal Tax Law Update for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-U-00563-21-S)
  • 1 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
  • 1 CE Credit for Certified Wealth Strategist (CWS)
  • 1 General Credit of Taxes for Accountant/Bookkeeper/Tax Professionals

Additional details

  • Course Level :
    Basic
  • Credits :
    1
  • 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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  • 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

4.3

91 Ratings

Excellent

45

Very Good

34

Average

10

Poor

2

Terrible

0

KG

Krista Garlinger, EA

Jun 15th, 2021

Fantastic webinar! Both instructors were knowledgeable, clear and concise. Volumes of information provided.

TB

Teresa Barrow

Jun 15th, 2021

I appreciate the presenters taking time to share their expert knowledge on taxes.

AH

Audra Hoflich

Jun 15th, 2021

It was flawless. The presenters were engaging and responsive to questions.

MF

Michael Fraser, EA

May 20th, 2022

Area I have no knowledge of. Good to review.

RL

Rachael Lembo, CPA (US)

Jun 15th, 2021

good details on a complicated topic

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