Introduction to Multistate Income and Sales & Use Taxes

As a result of recent declines in revenues, along with increased audit activities, states are becoming extremely aggressive in their tax collection efforts. Advancing technology, coupled with business growth and sales across state lines, has led to greater complexity and increased states’ efforts to reach out and tax additional business activities. While multistate taxation has become increasingly problematic, it provides ample opportunities to reduce business taxes and avoid expensive pitfalls. With this course, learn the essentials of multistate income taxation and how the apportionment and allocation of business activities will drive the taxation of the business in each state as well as its overall level of state and local taxation. You will also find out which transactions may be subject to a sales or use tax and what jurisdiction may tax it.

OBJECTIVES

• Grasp the key principles of multistate taxation
• Tackle the concept of nexus and resulting taxation of multistate activities
• Identify approaches to multistate income tax planning
• Recognize which transactions are subject to sales & use taxes and which are exempt
• Recognize key issues affecting specific industries
• Conduct examinations by state taxing authorities

PREREQUISITE: None