Multistate Taxation - Tax Staff Essentials

Overview

Do you know where your clients' businesses have nexus? The rapidly evolving area of multistate taxation should be on the radar of business tax professionals.

Prerequisites

Working knowledge of federal income taxation

Objectives

• Identify the history of the Multistate Tax Commission and Uniform Division of Income for Tax Purposes Act.
• Distinguish between income tax and sales tax nexus.
• Identify the limitations of Public Law 86-272.
• Identify the most common additions to federal taxable income.
• Identify the most common subtractions from federal taxable income.
• Apply the tests for determining business and nonbusiness income.
• Determine the components of the traditional Massachusetts formula.

Highlights