Does a business have nexus in a particular jurisdiction? With the rate of change, you can't afford to be out-of-date with your knowledge of this critical tax area. Spotlighting updates on the latest on state tax reforms and the Wayfair Decision, this guide will help you to develop a working knowledge of both multistate tax compliance and related planning opportunities, so you can skillfully guide your clients through the maze of multistate corporate tax codes.
Key topics covered include:
- Constitutional limits and P.L. 86-272
- Nexus, UDITPA, MTC
- Calculation of state taxable income
- Filing methods for multistate taxpayers
- Apportionment and allocation
- Multistate income tax planning
- Audit defense strategies
Table of Contents
Overview Overview-1
Why a national multistate income tax course? Overview-3
Tax formula for multistate corporate taxpayers Overview-5
Irregular corporate tax structures Overview-8
Chapter 1 1-1
Interstate Activity and Nexus 1-1
Nexus defined 1-3
What we know and where to go from here 1-30
Chapter 2 2-1
Calculation of State Taxable Income: Modifications 2-1
Additions 2-3
Subtractions 2-12
Chapter 3 3-1
Filing Methods for Multistate Taxpayers 3-1
Separate, consolidated, or combined filing 3-2
The landmark cases 3-8
Multistate Tax Commission 3-23
Chapter 4 4-1
Apportionment and Allocation 4-1
Current rules 4-2
The Hercules cases 4-20
The Supreme Court: Once again 4-23
Chapter 5 5-1
Apportionment Formulas and Factors 5-1
Payroll, property, and sales factors 5-2
The payroll factor 5-7
The property factor 5-11
The sales factor 5-17
How much distortion is enough? 5-32
The treatment of factors in partnerships 5-33
Appendix A A-1
Basic Ideas of Multistate Income Tax Planning A-1
Identifying goals and methodologies A-4
Appendix B B-1
Audit Defense Strategies B-1
Audit selection B-4
The pre-audit B-6
Initial meeting and audit work B-8
Closing conference B-10
Glossary Glossary 1
Index Index 1
Solutions Solutions 1
Chapter 1 Solutions 1
Chapter 2 Solutions 3
Chapter 3 Solutions 4
Chapter 4 Solutions 6
Chapter 5 Solutions 7
