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Course Details

Course Information
  • smart_display Format

    On-Demand

  • signal_cellular_alt Difficulty Level

    Intermediate

  • work Practice Area

    Corporate Tax

Date & Time
  • event Date

    Thursday, October 26, 2023

  • schedule Time

    1:00 p.m. ET./10:00 a.m. PT

  • timer Program Length

    110 minutes

Credit Information

  • BARBRI is a NASBA CPE sponsor and this 110-minute webinar is accredited for 2.0 CPE credits.

$247.00
CPE
ALL

This webinar will address the recent guidelines issued by the Multistate Tax Commission (MTC) concerning the application of PL 86-272 in today's virtual business environment. Our panel will analyze the new standards and review other current MTC recommendations.

Faculty

Stacey L. Roberts
State and Local Tax Director
TaxOps

Ms. Roberts has been making state and local tax (SALT) less taxing for thousands of businesses over the last 25 years. As a director of the SALTovation team at TaxOps, she guides dynamic businesses through compliance and strategic planning focused on minimizing risk and strengthening tax positions. Ms. Roberts honed her specialty at Andersen Worldwide/Andersen LLP, KPMG and Deloitte before moving in-house with a Fortune 500 company to administer state and local tax. She has also led the national SALT practice at a regional firm. Ms. Roberts is a member of the Colorado Legislative Task Force Concerning Tax Policy and a frequent speaker, instructor and author on SALT issues for industry and professional organizations.

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Meredith Smith
Partner
TaxOps

Ms. Smith expertly weaves real-life examples into why business taxpayers, tax professionals, and tax providers should care about complex state and local tax (SALT) issues. This knowledge comes from expertly navigating the web of tax laws governing SALT issues for nearly 20 years. From working with clients inside their business, she knows the questions, issues and strategies for resolution that keep businesses on the tax compliance track. Ms. Smith combines technical knowledge and in-depth industry understanding in performing nexus studies, identifying areas of risk, and designing sustainable planning opportunities for achieving tax-specific business goals. Her practice covers state income tax, property tax, sales and use tax, and business incentives and credits. Prior to TaxOps, Ms. Smith was a member of the SALT practice at KPMG, serving large, multi-jurisdictional corporations and multi-tier partnerships across industries. She is a frequent speaker and the host of the SALTovation podcast, a podcast series featuring leading voices in states and local tax. Listen in on your favorite channel: https://saltovation.captivate.fm/listen. 

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Description

Simply put, PL 86-272 prevents states from imposing an income tax on a business when its only connection with the state is the solicitation of orders of tangible personal property. Many companies have continued to rely on PL 86-272 to shield them from state income tax liability. Enacted in 1959, this statute did not foresee the internet and digital commerce. On Aug. 4, 2021, the MTC adopted updates to its prior statement on PL 86-272 that incorporate e-commerce and provided examples of specific activities that constitute doing business in a state.

These activities include:

  • Transmitting code or electronic instructions via the internet to fix or upgrade products
  • Providing post-sale assistance to in-state customers via chat or email
  • Placing internet "cookies" onto the computers or other electronic devices of in-state customers

As states enact new recommendations, multistate businesses and SALT practitioners need to understand the reach and implementation of the new guidelines.

Listen as our panel of SALT experts reviews new PL 86-272 guidance issued by the MTC, offers recommendations for implementing the latest standards, and reviews other recent MTC recommendations for businesses operating in multiple states.

Outline

  1. The Multistate Tax Commission
  2. PL 86-272 background
  3. MTC's Statement on PL 86-272
  4. MTC's Model Statute for Combined Reporting: the "Finnigan Method"
  5. Other recent guidelines

Benefits

The panel will cover these and other key issues:

  • The purpose and mission of the MTC
  • Internet activity that creates state income tax nexus under MTC's August 2021 guidelines
  • MTC's recent statement on combined reporting a/k/a the Finnigan Method
  • Tips for businesses transitioning to the new guidelines

NASBA Details

Learning Objectives

After completing this course, you will be able to:

  • Identify specific internet activity that is not shielded by PL 86-272 according to the recent MTC statement
  • Determine the purpose and mission of the MTC
  • Ascertain when a business, not previously subject to tax in a particular state, may now be
  • Decide steps a company should take to implement the new guidelines

  • Field of Study: Taxes
  • Level of Knowledge: Intermediate
  • Advance Preparation: None
  • Teaching Method: Seminar/Lecture
  • Delivery Method: Group-Internet (via computer)
  • Attendance Monitoring Method: Attendance is monitored electronically via a participant's PIN and through a series of attendance verification prompts displayed throughout the program
  • Prerequisite: Three years+ business or public firm experience preparing complex tax forms and schedules, supervising other preparers or accountants. Specific knowledge and understanding of SALT taxation, nexus and apportionment as it applies to multi-state businesses.

Strafford Publications, Inc. 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 Credits. Complaints regarding registered sponsons may be submitted to NASBA through its website: www.nasbaregistry.org.