Understanding Apportionment for a Multistate Business 2024

Overview

Apportionment has never been more challenging. States use different methods and sourcing rules for the same transaction. Become the expert in your office on current issues affecting apportionment, such as the apportionment formulas used by other states. Understand sourcing rules, and most importantly, learn to structure transactions so clients aren’t taxed on the same income in multiple states. Review how apportionment applies to flow-through entities and their owners.

Highlights

• Apportionment Formulas
• Sourcing Rules for service income and income from intangibles
• Throwback and throw-out and when they apply
• Apportionment applied to flow-through entities and sole proprietorships
• Learn about Alternative Apportionment

Prerequisites

None

Designed For

CPAs and tax practitioners who file multistate tax returns.

Objectives

• Become familiar with different apportionment formulas used by different states
• Understand market-based sourcing rules as applied to service and intangible income
• Understand throwback and throw-out concepts and when they apply
• Recognize when transactions might be subject to a double tax

Preparation

None

Notice

This course is offered by a 3rd party vendor. Login instructions will not be accessible in the My CPE Tracker section of the ISCPA website. Login instructions will be emailed directly to you by California Education Foundation (CalCPA).