BarbriSFCourseDetails
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Course Details

Course Information
  • smart_display Format

    On-Demand

  • signal_cellular_alt Difficulty Level

    Intermediate

  • work Practice Area

    Corporate Tax

Date & Time
  • event Date

    Monday, February 17, 2020

  • schedule Time

    1:00 p.m. ET./10:00 a.m. PT

  • timer Program Length

    110 minutes

Credit Information

  • BARBRI is a NASBA CPE sponsor and this 110-minute webinar is accredited for 2.0 CPE credits.

$247.00

This course will explain the unique aspects of New York State and City taxation when compared to the laws of other jurisdictions. Our expert will guide SALT professionals and business owners through a summary and evaluation of key issues within New York's corporate tax, sales tax, withholding tax, and partnership tax laws. Emphasis will be placed on high-dollar value issues that commonly arise in litigation, as well as issues that are sometimes missed, and important tax considerations for anyone operating a New York business.

Faculty

Reed Jeffrey
Shareholder
Kilpatrick Townsend & Stockton LLP

Mr. Reed chairs the firm's State and Local Tax Practice. He helps tax directors, business owners, and individuals manage state and local tax risks and exposure, including assessing the strength of corporate tax positions, evaluating whether charges are subject to sales tax, and representing taxpayers in disputes with revenue agencies throughout the U.S. He brings a practical, pragmatic approach to state and local taxation, one that takes into account reserve considerations, legal and administrative guidance, and anticipated revenue agency responses. He is particularly experienced with New York and Massachusetts tax controversies, corporate tax planning, assessing the anticipated state tax consequences of mergers and acquisitions, and analyzing the taxability of electronic commerce and emerging business models. He has resolved disputes with most tax agencies in the United States, and also has broad experience with IRS audits and appeals, and unclaimed property.

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Description

New York's response to Wayfair in January 2019 requires businesses with no physical presence but sales above $300,000 and 100 transactions to register and remit state and local sales taxes. The effective date of this change is June 21, 2018, the date of the Wayfair decision, leaving advisers and businesses scrambling to comply.

In addition to the new challenges of business filings in New York, practitioners still face the challenges of determining the most appropriate business structure and the best practices when selling a business entity operating in New York. On top of New York state concerns, practitioners must understand how New York City taxes businesses including its commercial rent tax.

Listen as our speaker explores the complexities of doing business in New York State and City, including New York's response to Wayfair, what constitutes nexus in New York, tax issues for NY business owners, and more.

Outline

  1. Doing business in New York--an overview
  2. New York State and City's response to federal tax reform
  3. Nexus thresholds
  4. Sales tax considerations
  5. Payroll tax considerations
  6. Choice of entity
  7. Selling a business
  8. Other considerations

Benefits

Our speaker will review these and other vital issues:

  • What are the considerations in deciding what type of entity to use to operate a New York business?
  • What are some of the key New York corporate income tax issues in light of New York's corporate tax reform regulations?
  • What are a few of the "traps for the unwary" under the New York State and New York City tax laws?
  • What are some of the salient New York sales tax issues that SALT professionals need to understand?
  • How did New York conform or not conform to the Tax Cuts and Jobs Act?
  • What do SALT professionals need to know about New York's whistleblower law as it applies to New York taxes?
  • What are some New York withholding and unemployment insurance issues for businesses?
  • What are personal income tax issues for owners of New York businesses, and what considerations should be taken into account when selling a New York business?

NASBA Details

Learning Objectives

After completing this course, you will be able to:

  • Identify situations requiring remittance of payroll taxes in New York
  • Ascertain the appropriate business entity structure for certain businesses operating in New York
  • Determine the effects of tax reform on businesses operating in New York
  • Decide whether an entity met the nexus threshold in New York

Strafford Publications, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of Accountancy have final authority on the acceptance of individual courses for CPE Credits. Complaints regarding registered sponsons may be submitted to NASBA through its website: www.nasbaregistry.org.