Composite Return Issues for Pass-Through Entities and Nonresidents: Filing, Withholding, Remedying Noncompliance
Recording of a 110-minute CPE webinar with Q&A
This course will provide SALT professionals and pass-through owners who have multistate filing obligations with an in-depth review of preparing composite returns. Filing composite returns is a significant and necessary piece of SALT. However, the burden of withholding and remitting nonresident taxes in many states makes this area even more complicated. Listen as the panel explains composite filing requirements, withholding and payment obligations, individual nonresident filing considerations, and how states' PTE tax regimes affect composite return decisions.
Outline
- State composite return requirements
- Pass-through entity composite filing considerations
- Elective pass-through entity taxation regimes
- Mandatory filing and withholding requirements
- Individual taxpayer filing considerations
- Participating in a composite return
- Filing a nonresident return
- Current developments
- Past noncompliance and voluntary disclosure programs
Benefits
The panel will discuss these and other essential questions:
- How do states' PTE tax regimes affect the decision to file a composite return?
- What are the state requirements for withholding and remitting nonresident withholding?
- When should a pass-through entity elect to file a composite return?
- When should an individual elect to participate in a composite filing?
- What remedies are available for past noncompliance?
Faculty
Kimberly Capizzi, CPA
Managing Director, State & Local Tax
BDO USA
Ms. Capizzi works in the firm’s State and Local Tax Practice with more than 12 years of experience in public... | Read More
Ms. Capizzi works in the firm’s State and Local Tax Practice with more than 12 years of experience in public accounting, serving a wide array of clients, ranging from individuals to publicly traded corporations. She focuses much of her time on multistate organizations, including complex multi-tiered partnerships, ensuring clients meet all compliance requirements and deadlines. Most of Ms. Capizzi’s clientele are flow-through entities and she is well versed in the state tax issues specific to such entities. Additionally, Ms. Capizzi assists corporations and flow-through entities in designing and implementing structural enhancements to generate long-term state tax reductions and reduce state tax compliance requirements.
Close
Bradley R. Wilhelmson
Managing Director
KPMG
Mr. Wilhelmson practices in the firm’s State and Local Tax (SALT) practice and serves as a dedicated resource for... | Read More
Mr. Wilhelmson practices in the firm’s State and Local Tax (SALT) practice and serves as a dedicated resource for the firm’s asset management and real estate clients assisting them on structuring, tax planning and compliance. Mr. Wilhelmson is KPMG’s primary tax technical resource for Illinois and Wisconsin taxes and advises clients on income, transactional, and franchise taxes. He also specializes in investor related state tax issues, including individuals and trusts. Mr. Wilhelmson works extensively on state nonresident withholding tax issues for large multiple-tier structures, and on SALT partnership tax issues, tax controversies and provisions for pass-through entities. He has authored articles and has been quoted in various tax publications, and additionally is a regular presenter on SALT issues at conference and training events.
Close
