What criteria determines if a client is doing business in a state for income tax or sales tax purposes? We’ll answer your questions, beginning with a discussion on statutory thresholds for income/sales tax reporting requirements and how they apply. Then delve into the concept of “economic nexus”, and how its been interpreted in various cases. An examination of the differences between sales tax and income tax nexus and the impact on your client will also be presented. Finally, we’ll analyze how these concepts apply to flow-through entities and sole proprietors.
Sales Tax Nexus requirements. Income Tax Nexus requirements. Nexus for flow-through entities and their owners. Planning for the nexus audit.
CPAs, Attorneys, and other tax practitioners with multistate clients.
Identify transactions that could cause your client to have nexus with a state. Determine what the nexus thresholds are in California and other major states. Recognize differences between income tax and sales tax nexus requirements.
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.
Non-Member Price $199.00
Member Price $149.00