S09-California Multi-State Reporting Issues

Wednesday, June 26 | 3:30 pm - 5:10 pm
Track: California
      2 hours California (CRTP, OTRP) - To earn the required 5 hours of California credit, CRTPs must also register for S33: California Tax Update
      2 hours Taxes/Tax Planning (CPA, CFP)
      1.75 hours Taxation Law (Attorney – CA Bar MCLE)
      2 hours (CSEA/NAEA)
     EAs: The IRS does not permit EAs to receive CE credit for California topics
SpeakerVicki Mulak, EA, CFP®

Description: This session will go over California's migration to an "economic" nexus rather than a physical presence nexus for determinations of sales subject to California income or franchise tax, as well as sales tax. The significant increase in online sales, and performance of contracts without being physically located in California is the driving force affecting these changes, as well as recent court case decisions like Wayfair. The importance in understanding economic nexus to the practitioner is to properly guide taxpayers, especially former residents of California or out-of-state taxpayers, as to when California taxation applies.  

Learning Objectives
1. Increase your understanding of multi-state apportionment for small business clients                               
2. Understand how former residents might still be subject to California taxes                           
3. Enhance your competency in reporting sales to multiple jurisdictions                                   
4. Gain confidence in determining when an entity should register in a state other than formation state

Learning Level: All learning levels

Prerequisites: None

Advanced Preparation: None