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Course Details

Course Information
  • smart_display Format

    On-Demand

  • signal_cellular_alt Difficulty Level

    Intermediate

  • work Practice Area

    Tax Law

Date & Time
  • event Date

    Wednesday, August 31, 2022

  • schedule Time

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

  • timer Program Length

    90 minutes

Credit Information

  • This 90-minute webinar is eligible in most states for 1.5 CLE credits.

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

  • BARBRI is an IRS-approved continuing education provider offering certified courses for Enrolled Agents (EA) and Tax Return Preparers (RTRP).

$347.00
CLE
CPE
ALL

This CLE/CPE course will guide tax counsel and advisers to resolve complex tax questions confronting pass-through entities with a presence in more than one state. Our panel will brief attendees on state recognition rules and other complexities that apply to multistate S corps, LLCs, and partnerships.

Faculty

Kelvin M. Lawrence
Partner
Dinsmore & Shohl

Mr. Lawrence advises on taxes implicated in multi-state transactions and has resolved Ohio state income tax, sales tax, commercial activity tax, pass-through entity tax, municipal income tax, and property tax appeals. He helps his clients manage interactions with taxing authorities and get the most from the involvement of expert witnesses and consultants in tax and unclaimed property audits and controversies. Mr. Lawrence has secured significant refunds in Ohio sales tax proceedings, as well as in real property tax exemption and valuation disputes. He has helped tax-exempt organizations obtain and preserve federal tax-exempt status by advising them on joint ventures, combinations, restructuring, compensation procedures, charitable activities, financial assistance policies, and helping them receive tax-exempt bond financing.

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Elizabeth Pascal
Partner
Hodgson Russ LLP

Ms. Pascal concentrates her practice in tax law with a focus on New York State, New York City, and multistate tax issues. She assists individual and business clients with New York State and New York City audits, including residency, sales tax, unincorporated business tax, commercial rent tax, and corporate tax audits. She also helps clients successfully navigate New York State’s voluntary disclosure process.

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Description

More and more pass-through entities have a legally recognized presence in more than one state due to recent changes in federal tax law and precedents regarding nexus. As a result, tax advisers and counsel must prepare to advise multistate pass-through entities and their owners to manage and comply with complex and often inconsistent state tax law requirements.

If pass-through entity owners are located in many states, this compounds the already complex challenges for tax counsel and advisers and may expose the entity to further state tax obligations. Counsel and advisers need tools to balance the myriad competing state law obligations they will face.

Listen as our experienced panel carefully reviews the complex interaction of varying state tax law regimes with pass-through entities. Attendees will benefit from a discussion of state recognition rules, election issues, federal conformity, composite returns, and more.

Outline

  1. State conformity to the federal treatment of pass-through entities
  2. Jurisdiction to tax (nexus) pass-through entities and their owners
  3. Apportionment of pass-through entity income
  4. Entity-level taxes and the federal SALT deduction cap
  5. State taxation and the partnership audit rules

Benefits

The panel will review these and other high priority issues:

  • Reconciling varying state recognition rules when determining state tax liability
  • Navigating federal conformity when determining a pass-through entity's state tax obligation
  • Identifying nexus-creating activities of multistate pass-through entities
  • Comparing apportionment regimes among various state tax jurisdictions

NASBA Details

Learning Objectives

After completing this course, you will be able to:

  • Identify and reconcile the varying state tax law regimes that apply to multistate pass-through entities
  • Ascertain state recognition rules impacting multistate entities
  • Recognize which states conform to federal tax regulations for pass-through entities

  • 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 at mid-level within the organization, preparing complex tax forms and schedules; supervisory authority over other preparers/accountants. Specific knowledge and understanding of partnership tax rules, corporate structure, and state audit and tax regulations.

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.

IRS Approved Provider

Strafford is an IRS-approved continuing education provider offering certified courses for Enrolled Agents (EA) and Tax Return Preparers (RTRP).