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Multistate Taxation of Flow-Through Entities (4153005E)
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"Focus on how flow-through entities are taxed by states and look at their income base and rate structure; discuss all types of flow-through entities with particular emphasis on LLCs, S corporations and trusts; explore the doing business concept and how it applies to flow-through entities that are organized outside the state. We also will analyze how the income flows through to the partner, shareholder or member and when the owner is deemed to be doing business in the state; look at the states t

9/21/2015
When: 9/21/2015
7:30 AM - 3:00 PM
Where: Webcast/Webinar
Presenter: Kathleen K. Wright, JD, LLM, CPA
Contact: April Deneault
801-834-6634


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Focus on how flow-through entities are taxed by states and look at their income base and rate structure; discuss all types of flow-through entities with particular emphasis on LLCs, S corporations and trusts; explore the doing business concept and how it applies to flow-through entities that are organized outside the state.
We also will analyze how the income flows through to the partner, shareholder or member and when the owner is deemed to be doing business in the state; look at the states that offer (and those that require) the filing of a composite tax return; dissect the requirements that apply to filing this unique tax return; and gain a full understanding regarding utilization of credits by both the multistate entity and their owners.
Course materials will summarize key attributes of a state's tax system in an easy-to-follow format.



Objectives:


    Identify how California and other states tax flow-through entities and how these assessments are computed.
    Determine when the entity and their owners are doing business in the state.
    Recognize how to apportion the tax base at both the entity and the owner level.
    Recall special apportionment rules that apply to the undistributed income of a trust.
    Identify when, where and how to file a composite return.
    Determine the penalty assessments imposed on these complex structures.
    Identify new state developments.


    
   

Major Subjects:



    Taxation of flow-through entities and trusts in a multistate environment
    Nexus standards for flow-through entities
    Apportionment formulas that apply to flow-through entities and their owners
    Sourcing rules that apply for apportionment purposes
    Composite returns and how they can benefit your clients

    
           

Designed For:

CPAs, attorneys and other tax practitioners filing tax returns in multiple states for flow through entities (including trusts and their beneficiaries); tax advisers who provide planning strategies for clients whose businesses expand outside of California.

Prerequisite:  None

Advanced Prep:  None

Speaker: Kathleen K. Wright, JD, LLM, CPA

Vendor: CalCPA

Field of Study:   Taxes

Level:  Overview

CPE Credit: 8 Hours

Acronym: MTXF

 

Registration Fees:

Members: $275

Nonmembers: $375

 

Meet the Speaker:

Kathleen K. Wright, JD, CPA,MBA,  LLM (Taxation), is a professor of accounting in the Graduate Tax Program at California State University Fullerton. She has a private tax practice focusing on personal and small business tax planning dealing primarily with California state issues. Ms. Wright has been awarded the Education Foundation's  Instructor of the Year Award, the Outstanding Course Materials award and the Award for Meritorious Service. She is also the author of numerous articles on State and Local Tax issues which have been published in The Tax Lawyer (the SALT edition), The Tax Adviser (published by AICPA), the Journal of State Taxation (published by CCH) and State Tax Notes (published by Tax Analysts) where she serves as a California Correspondent. She is also the author of the California Income Tax Manual 2009 edition published by Commerce Clearing House.

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