As the prevalence of passthrough entities grows, the multistate income tax issues become more relevant. This is a particularly difficult area, especially in instances of passthroughs with nonresident members and/or tiered structures. This webinar will explore the many issues so that passthrough entity income tax returns can be properly prepared.
Publication Date: October 2020
Designed For
CPAs responsible for preparation of multistate income tax returns for passthrough entities.
Topics Covered
- State Conformity with Federal Passthrough Treatment
- Nexus for Passthrough Entities
- Tax Obligations of Non”Resident Individual Owners
- Passthrough Entities Owned by Corporations
- New Passthrough Entity Taxes because of TCJA
Learning Objectives
- Identify the states in which their passthrough entities have filing requirements
- Identify how to apply passthrough-specific apportionment concepts to their entities
- Recognize tax obligations of non-resident individual owners
- Identify correct statements regarding state conformity with federal passthrough treatment
- Identify correct statements correct regarding tax obligations of non-resident individual owners
- Identify an advantage of filing composite
- Recognize a way to avoid state withholding
- Identify states without individual income tax
Level
Basic
Instructional Method
Self-Study
NASBA Field of Study
Taxes (2 hours)
Program Prerequisites
None
Advance Preparation
None
Instructor
Michael Bannasch
Michael is a senior manager with Rehmann based in the Ann Arbor, Michigan office. He serves as a firm-wide resource, providing state and local tax (SALT) consulting services to help clients minimize tax and manage risk. These services include structural and operational strategic planning, audit representation and appeals, nexus studies and reverse audits. Prior to joining Rehmann, Michael served as a tax manager with a local accounting firm. He has more than 15 years of public accounting experience.