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
Eric Homsi
Counsel
Crowell & Moring
Mr. Homsi is a counsel in the firm's Tax Group, resident in the New York office. His practice concentrates... | Read More
Mr. Homsi is a counsel in the firm's Tax Group, resident in the New York office. His practice concentrates primarily on advising public and private companies with respect to business tax issues associated with structuring, negotiating, and executing domestic and cross-border acquisitions, divestitures, and restructurings. Mr. Homsi also counsels clients on tax issues associated with real estate investments and joint ventures, equity and debt securities offerings, and other transactions where tax considerations play an important role. In addition, he assists multinational businesses with inbound and outbound tax planning and strategy.
CloseGeorge W. Rendziperis, JD
Managing Director, State and Local Tax
Hancock Askew & Co.
Mr. Rendziperis provides state and local tax advice to companies in the financial services, private equity, real... | Read More
Mr. Rendziperis provides state and local tax advice to companies in the financial services, private equity, real estate, technology, manufacturing, oil and gas, and service sectors. He has more than 15 years of experience advising clients on controversy, litigation, planning, implementation and compliance issues related to income and franchise tax, sales and use tax, excise and property taxes, unclaimed property, and tax incentives and credits.
CloseEarly Discount (through 11/08/24)
CPE credit processing is available for an additional fee of $39.
CPE processing must be ordered prior to the event.
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NASBA details.
Cannot Attend December 6?
Early Discount (through 11/08/24)
CPE credit is not available on downloads.
CPE On-Demand