The Essential Multistate Tax Update (MST4)
Overview
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With the largest overhaul of the federal income tax code in 30 years and the repeal of the physical presence nexus standards for sales tax in the Wayfair case, the states are working fast and furious to overhaul their tax laws. As some states scramble to fund their budgets, they continue to look for additional forms of revenue. Plan to attend this fast-paced class that covers developing topics in state taxation, ranging from individuals to pass-through entities to corporate taxpayers. This class will focus on issues of small and middle-market companies and offer guidance for minimizing tax liability and negotiating the treacherous waters of compliance.Highlights
Employees working in multiple states: Withholding issues (when to start and where to withhold) special issues depending on type of tax assessed in the state or locality Emerging sales tax topics: Elimination of the physical presence standard in determining nexus (Wayfair case); economic nexus for remote sellers; assisting remote sellers in determining a plan of action in states that enforce economic nexus Emerging compliance issues in the new sales tax economy Income Tax (and other forms of tax): Economic nexus (taxation without physical presence) Will states shift away from income tax and increase reliance on sales tax after Wayfair? Treatment of Tax Cuts and Jobs Act by the states: presence of intangible property; is P.L. 86-272 still valid? Pass-through problems: Nexus issues for interest owners Treatment of the 199A deduction for pass through entities by states: Withholding issues Practical considerations in dealing with multistate taxation: Dealing with state nexus questionnaires When to consider voluntary compliance: Responsibility of officers, members, partners, and shareholders; planning ideas and opportunities; updates on pending federal legislation relative to state tax
Prerequisites
Experience in corporate taxation
Designed For
Accountants who want an update on current multistate tax issues to minimize clients’ potential state and local tax liability
Objectives
Understand changes in state statutes, regulations and case law Determine how the states will treat changes under the Tax Cuts and Jobs Act Identify areas that may require additional attention for state tax planning purposes Identify areas that may be costly for employers or clients Understand the “who, what, when, and where” of nexus for income and sales tax
Preparation
None
Leader(s):
Leader Bios
Arthur Auerbach
Arthur Auerbach
Arthur Auerbach CPA CGMA is an independent tax consultant located in Atlanta, GA., specializing in tax consulting and estate and financial planning for individuals and closely held businesses. He is affiliated with the Asbury Law Firm as a consultant.
He is a member of the Georgia, Virginia, New York and Greater Washington CPA societies. He is currently a member of the AICPA Internal Revenue Service Advocacy and Relations Committee, where his term ends on January 31, 2018 and a past member of the AICPA Individual Tax Resource Panel. Art was appointed to the AICPA Tax Executive Committee for a term beginning February 1, 2018 ending May 31, 2019. As an active member of the Georgia Society he serves on the Georgia Department of Revenue Commissioners Advisory Group and the Financial Literacy Task Force.
He has served as an advisor to the District of Columbia Office of Tax and Revenue and the Tax Commissioners Advisory group in Virginia. Art is currently on the editorial board of the Journal of Accountancy and serves as a member of the Ethics Committee of the Virginia Society of CPA’s.
Art is a nationally recognized speaker on a variety of tax topics offered for continuing education for CPA’s and financial planners. He has authored several publications and articles.
Art is licensed in Georgia, Virginia, District of Columbia and New York and is a life member of the American Institute of CPA’s.
Non-Member Price $234.00
Member Price $169.00