Mastering Multistate Taxation of S Corporations: State Variances in Recognition of S Elections, PTE Elections
Note: CLE credit is not offered on this program
A live 110-minute CPE webinar with interactive Q&A
This course will provide tax preparers and advisers with detailed guidance on the most pervasive issues facing multistate taxation of S corporations. The panel will detail those states that vary from automatic acceptance of the federal S-election, review the composite return requirements, and discuss calculations, adjustments, and filing requirements for those states where the S-election fails and a composite return is not available. The panel will also outline state variances in tax treatments of qualified subchapter S subsidiaries (QSSS) and pass-through entity (PTE) elections for multistate S corporations.
Outline
- Current landscape of state treatment of S corporations
- States with full conformity with federal S-election
- States with partial conformity with federal S-election
- States with intentional nonconformity with federal S-election
- S corporations with nonresident shareholders
- Pass-through entity elections for S corporations
- Apportionment and allocation questions
- Taxation of nonresident shareholders
- Composite return requirements
Benefits
The panel will review these and other key issues:
- What are the current state-by-state mechanics for nonresident S corporations?
- What are the composite return and consent rules in the case of S corporations with nonresident shareholders?
- What are the major state trends for QSSS recognition?
- What calculations, adjustments, and schedules need to be maintained in the case of multistate filings where one state does not recognize S corporation status?
Faculty
Stacey L. Roberts, CPA
State and Local Tax Director
TaxOps
Ms. Roberts has been making state and local tax (SALT) less taxing for thousands of businesses over the last 25 years.... | Read More
Ms. Roberts has been making state and local tax (SALT) less taxing for thousands of businesses over the last 25 years. As a director of the SALTovation team at TaxOps, she guides dynamic businesses through compliance and strategic planning focused on minimizing risk and strengthening tax positions. Ms. Roberts honed her specialty at Andersen Worldwide/Andersen LLP, KPMG and Deloitte before moving in-house with a Fortune 500 company to administer state and local tax. She has also led the national SALT practice at a regional firm. Ms. Roberts is a member of the Colorado Legislative Task Force Concerning Tax Policy and a frequent speaker, instructor and author on SALT issues for industry and professional organizations.
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Meredith Smith, CPA
Senior Tax Manager
TaxOps
Ms. Smith expertly weaves real-life examples into why business taxpayers, tax professionals, and tax providers should... | Read More
Ms. Smith expertly weaves real-life examples into why business taxpayers, tax professionals, and tax providers should care about complex state and local tax (SALT) issues. This knowledge comes from expertly navigating the web of tax laws governing SALT issues for 15 years. From working with clients inside their business, she knows the questions, issues and strategies for resolution that keep businesses on the tax compliance track. Ms. Smith combines technical knowledge and in-depth industry understanding in performing nexus studies, identifying areas of risk, and designing sustainable planning opportunities for achieving tax-specific business goals. Her practice covers state income tax, property tax, sales and use tax, and business incentives and credits. Prior to TaxOps, Ms. Smith was a member of the SALT practice at KPMG, serving large, multi-jurisdictional corporations and multi-tier partnerships across industries.
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CPE On-Demand