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.

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