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

State Income Tax Reporting for Non-U.S. Entities

Determining Nexus, Filing Requirements, and the Impact of U.S. Income Tax Treaties

$197.00

This course is $0 with these passes:

CPE
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Description

Post Wayfair, numerous states have enacted bright-line nexus requirements that are often satisfied when an express amount of sales or number of transactions is met or surpassed. Similarly, many states believe that nexus is created when a business is doing business or is deriving any income from the state. These thresholds usually replace the physical presence requirement in a state and are separate from applicable federal filing requirements.

U.S. income tax treaties with other countries do not govern state taxation. These agreements often incorporate permanent establishment guidelines to determine whether an entity is subject to federal tax. Some states do not tax treaty-protected income, other states clearly reserve the right to tax treaty-protected income, while still others do not directly address the application of U.S. income tax treaties to income in their state.

That being said, not knowing how a state's income and local tax rules apply to non-U.S. entities can result in substantial penalties for noncompliance. SALT professionals working with multinational companies need to understand how states tax foreign businesses.

Our panel will review state requirements for taxing inbound foreign income.

Listen as our panel of SALT experts explains state nexus determinations and the impact of U.S. income tax treaties on state income and reporting requirements, and provides examples of the application of these rules in specific states.

Presented By

John Damin
Managing Director
BDO USA

Mr. Damin is a Managing Director whose primary focus is in state and local income/franchise tax. His state tax experience, spanning more than a decade, includes tax planning, tax compliance, controversy, state tax provision review, and sales and use tax.

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Ilya A. Lipin
Tax Principal, Mid-Atlantic Region State and Local Tax Practice Leader
BDO USA

Mr. Lipin provides clients with state tax advice in the area of multistate income taxes, sales and use taxes, tax controversy, compliance, and various SALT aspects that arise from M&A transactions.

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Corey McMonagle
SALT Manager
BDO USA

Mr. McMonagle is a State and Local Tax Manager at BDO USA, LLP. He has several years of state and local tax consulting experience in multi-state income, franchise, and gross receipts taxes, sales and use taxes, tax controversy, compliance and filing methodologies.He is skilled in legal research, writing, tax and corporate law, and review and drafting of legal documents. Mr. McMonagle has significant experience performing multistate mergers & acquisition tax due diligence projects on hundreds of private equity and strategic transactions to identify and assist with various state and local tax aspects that arise in such transactions. He received both JD and LLM in Taxation from Temple University - James E. Beasley School of Law.

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Credit Information

  • 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).

Date + Time

  • event

    Monday, October 28, 2024

  • schedule

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

  1. State taxation for non-U.S. corporations: introduction
  2. Nexus determinations
  3. Determining state taxable income
  4. Effectively connected income
  5. Income tax treaties
  6. Filing methods
  7. Structuring
  8. State-specific guidelines
    1. California
    2. New York
    3. Pennsylvania
    4. Other states
  9. Other considerations

The panel will review these and other critical issues:

  • The impact of U.S. income tax treaties on state taxation of non-U.S. corporate income
  • How state nexus rules are applied to taxation and reporting requirements of foreign inbound income
  • The interaction of federal permanent establishment rules with state nexus requirements
  • Application of P.L. 86-272 to non-U.S. entities
  • Selecting appropriate filing methods including separate, unitary-combined and water's-edge requirements

Learning Objectives

After completing this course, you will be able to:

  • Identify state nexus requirements in specific states
  • Determine how state nexus requirements apply to income earned by non-U.S. corporations
  • Decide how states embrace U.S. income tax treaties
  • Ascertain key differences between state and federal taxation of non-U.S. 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 preparing complex tax forms and schedules, supervising other preparers or accountants. Specific knowledge and understanding of international taxation including residency determination, foreign entity classifications, application of treaty benefits, as well as GILTI, Subpart F, and the related Section 250 deductions.

BARBRI 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

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

BARBRI CE webinars-powered by Strafford-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 .