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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, December 7, 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 discuss current state tax developments in New York, Massachusetts, New Jersey, Pennsylvania, and other key states in the Northeast. Our panel of SALT leaders will review current cases, new laws, and legislative updates in this region of the U.S. for tax professionals working with taxpayers in these states.

Faculty

Tri Hoang
Director
Marcum LLP

Mr. Hoang is a principal in Marcum’s Tax & Business Services practice. He has more than 15 years of experiences focused on state and local tax matters, including income/franchise taxes, gross receipts taxes, sales & use taxes, excise taxes, and property taxes. Mr. Hoang has spent the last decade focused on state and local tax due diligence and advising clients on state tax issues in M&A transactions. He also has significant experience in tax controversy, managing large tax compliance engagements and helping clients secure significant credits and incentives.

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Jeffrey S. Reed
Partner
Kilpatrick Townsend & Stockton LLP

Mr. Reed chairs the firm's State and Local Tax Practice. He helps tax directors, business owners, and individuals manage state and local tax risks and exposure, including assessing the strength of corporate tax positions, evaluating whether charges are subject to sales tax, and representing taxpayers in disputes with revenue agencies throughout the U.S. He brings a practical, pragmatic approach to state and local taxation, one that takes into account reserve considerations, legal and administrative guidance, and anticipated revenue agency responses. He is particularly experienced with New York and Massachusetts tax controversies, corporate tax planning, assessing the anticipated state tax consequences of mergers and acquisitions, and analyzing the taxability of electronic commerce and emerging business models. He has resolved disputes with most tax agencies in the United States, and also has broad experience with IRS audits and appeals, and unclaimed property.

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Description

State and local tax developments continue to arise in states in the upper U.S. corner. Northeastern states as well as others in the U.S. continue to modify their pass-through entity tax process. New York recently added a New York City pass-through entity tax and increased the benefits of this election for certain S corporation shareholders.

New Jersey recently added incentives for relocating employees to its state. Qualifying businesses can earn as much as $500,000 for moving employees to New Jersey. Additionally, the state implemented major changes to state taxation of New Jersey businesses, including definitive nexus rules adapted from Wayfair. Receipts of over $100,000 or more than 200 transactions will constitute nexus in New Jersey for fiscal years ending on or after July 31, 2023. The same law requires partnerships to use single sales factor sourcing.

Pennsylvania, known for having one of the highest corporate tax rates in the U.S.--9.9 percent--recently approved a tax reduction that will reduce this tax rate, beginning in 2023, over a period of years to a remarkable 4.99 percent in 2031.

State and local tax rules are constantly changing. SALT specialists working with multistate companies and individuals need to stay abreast of the latest developments.

Listen as our panel of astute state and local tax experts reviews the latest revisions to tax requirements in key states in the Northeast.

Outline

  1. SALT developments in the Northeast: introduction
  2. Massachusetts
  3. New Jersey
  4. New York
  5. Pennsylvania
  6. Other states

Benefits

The panel will cover these and other critical issues:

  • New Jersey tax incentives for businesses
  • Key cases in the Northeast that affect SALT planning
  • Planning for Pennsylvania's corporate rate reduction
  • PTET updates for Northeastern states

NASBA Details

Learning Objectives

After completing this course, you will be able to:

  • Identify key tax incentives in New Jersey
  • Decide how recent SALT legislation affects taxpayers in the Northeast
  • Ascertain how recent tax rate changes in Pennsylvania provide planning opportunities for businesses
  • Determine recent changes to PTETs in Northeastern states

  • 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.