Multistate Income Tax

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Multistate Income Tax

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Does a business have nexus in a particular jurisdiction? With the rate of change, you can't afford to be out-of-date with your knowledge of this critical tax area. Spotlighting updates on the latest on state tax reforms and the Wayfair Decision, this guide will help you to develop a working knowledge of both multistate tax compliance and related planning opportunities, so you can skillfully guide your clients through the maze of multistate corporate tax codes.

Key topics covered include:
- Constitutional limits and P.L. 86-272
- Nexus, UDITPA, MTC
- Calculation of state taxable income
- Filing methods for multistate taxpayers
- Apportionment and allocation
- Multistate income tax planning
- Audit defense strategies
Overview Overview-1

Why a national multistate income tax course? Overview-3

Tax formula for multistate corporate taxpayers Overview-5

Irregular corporate tax structures Overview-8

Chapter 1 1-1

Interstate Activity and Nexus 1-1

Nexus defined 1-3

What we know and where to go from here 1-30

Chapter 2 2-1

Calculation of State Taxable Income: Modifications 2-1

Additions 2-3

Subtractions 2-12

Chapter 3 3-1

Filing Methods for Multistate Taxpayers 3-1

Separate, consolidated, or combined filing 3-2

The landmark cases 3-8

Multistate Tax Commission 3-23

Chapter 4 4-1

Apportionment and Allocation 4-1

Current rules 4-2

The Hercules cases 4-20

The Supreme Court: Once again 4-23

Chapter 5 5-1

Apportionment Formulas and Factors 5-1

Payroll, property, and sales factors 5-2

The payroll factor 5-7

The property factor 5-11

The sales factor 5-17

How much distortion is enough? 5-32

The treatment of factors in partnerships 5-33

Appendix A A-1

Basic Ideas of Multistate Income Tax Planning A-1

Identifying goals and methodologies A-4

Appendix B B-1

Audit Defense Strategies B-1

Audit selection B-4

The pre-audit B-6

Initial meeting and audit work B-8

Closing conference B-10

Glossary Glossary 1

Index Index 1

Solutions Solutions 1

Chapter 1 Solutions 1

Chapter 2 Solutions 3

Chapter 3 Solutions 4

Chapter 4 Solutions 6

Chapter 5 Solutions 7
Andrew Johnson, CPA, has worked for the IRS in Long Beach, CA and Spokane, WA. He has worked in public accounting firms as well as in private companies in various accounting roles. His career has exposed him to many industries and business organizations furthering his understanding of accounting and tax. He has a bachelors degree in accounting and business administration and a Masters of Science in Taxation from Golden Gate University.