Multistate Corporate Income Taxation: Basic Principles (Fifth Edition) (Currently Unavailable)

Author: Michael S. Schadewald

CPE Credit:  2 hours for CPAs
2 hours Federal Tax Related for EAs and OTRPs
2 hours Federal Tax Law for CTEC

Forty-five states and the District of Columbia impose some type of income-based tax on corporations. Although many states closely link their corporate tax to the federal income tax, some states impose other types of corporate taxes in lieu of a net income tax. This course reviews the basic principles of multistate corporate income taxation, including nexus, computation of state taxable income, apportionment, combined and consolidated reporting, and tax-planning strategies.

Note: This course does not contain audio.

Publication Date: May 2015

Topics Covered

  • Nexus, apportionment
  • Computation of state taxable income
  • Combined and consolidated reporting
  • Tax planning strategies

Learning Objectives

  • Identify which activities of a multistate corporation can create nexus
  • Explain how state taxable income is calculated
  • Describe the different types of apportionment formulas
  • Contrast the difference between state consolidated returns and combined unitary reporting
  • Describe basic multistate corporate income tax-planning strategies

Level
Basic

Instructional Method
Self-Study

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites
None

Advance Preparation
None

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