Best of the West: Issues Related to Doing Business in Multiple States

Description

Learn about the tax systems used by Oregon, Colorado, Texas, Arizona and other selected states. We will compare California law to our neighboring states including a discussion of conformity, nexus and apportionment. We will also consider how these states tax flow-through entities. Participants can request another state be added to the list of states covered if notify the Instructor at least three weeks prior to the event. Learn how to avoid the pitfalls of double taxation which often results from doing business in other states.

Highlights

• Understand how other states conform to federal law.
• Become familiar with the doing business requirements used by other states.
• Review the apportionment process used by other states (and how to plan for different formulas)
• Learn the basics of gross receipts tax systems used by Texas, Oregon and Nevada.

Objectives

• Determine the benefit of the IRC 1202 exclusion
• Identify the requirements that must be met to qualify for IRC 1202 exclusion
• Recognize limitation on the amount of the exclusion
• Compare the IRC 1202 exclusion to making S corporation election
• Determine the benefit of IRC 1045 deferral
• Identify the requirements that must be met to qualify for IRC 1045 deferral
• Recall the basics of Employee Stock Ownership Plans ( ESOP)
• Determine the benefit of the IRC 1042 deferral
• Identify the requirements that must be met to qualify for IRC 1042 deferral

Designed For

CPAs, Attorneys, and other tax practitioners with multistate clients.