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  • videocam On-Demand Webinar
  • signal_cellular_alt Intermediate
  • card_travel Corporate Tax
  • schedule 110 minutes

Implementing Recent MTC Guidelines: PL 86-272 and the Finnigan Method

$247.00

This course is $0 with these passes:

CPE
ALL
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About the Course

Introduction

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.

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.

Presented By

Stacey Chamberlain, CPA
Principal
Aprio, LLP

Ms. Chamberlain is a State and Local Tax (SALT) professional with more than 25 years of experience in public and private sector accounting. Her specialties include state income and franchise tax, sales and use tax, and strategic tax planning for flow-through entities and C corporations across diverse industries. Ms. Chamberlain is passionate about designing solutions that improve business tax outcomes and mitigate risk, while identifying opportunities for savings and efficiency.

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Meredith Smith
Principal
Aprio, LLP

Ms. Smith combines technical knowledge with an in-depth industry understanding of state and local tax (SALT) issues to help clients navigate the complexities of tax laws governing SALT issues. Her practice covers state income tax, sales and use tax, and state payroll tax. With more than 20 years of experience in SALT, Ms. Smith works with clients to design sustainable planning strategies that align with tax-specific business goals, while identifying risk areas and compliance requirements.

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Credit Information

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

Date + Time

  • event

    Thursday, October 26, 2023

  • schedule

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

  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

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

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.

BARBRI, 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.

BARBRI CE webinars-powered by Barbri-are backed by our 100% unconditional money-back guarantee: If you are not satisfied with any of our products, simply let us know and get a full refund. Contact us at 1-800-926-7926 .