2024 Hodgson Russ Fall Tax Series   

Join the attorneys from Hodgson Russ LLP’s State & Local Tax Practice for a five-week webinar series covering recent and noteworthy multistate tax issues for individuals and corporations.

Who Should Attend: Financial professionals such as CPAs, CEOs, CFOs, COOs, corporate counsel, and tax and financial advisors.

Register for individual sessions by clicking on the titles below. Two hours of CPE credit is available per session. Hodgson Russ attendees can receive 25% off any or all of the upcoming live Hodgson Russ Seminars with code 24HRUSSFALL.

11/19/2024 12:00 - 2:00 p.m. ET
State Taxation Considerations When Selling Partnership and Other Business Interests
Presenters: Open Weaver Banks and Daniel P. Kelly

While buyers often review a target company’s state and local tax compliance closely, too often owner-level state and local tax considerations are not on the radar when the sale of a business is negotiated. This course will address the many state tax considerations that should be reviewed when a business is sold, including sale structuring considerations; characterization and apportionment of gain; sales tax occasional sale exemptions; bulk sale requirements; real property transfer taxes; withholding considerations; and key contract provisions relating to tax representations, indemnification, and control of voluntary disclosures and post-closing audits.

Topics Covered

• Structuring Considerations
• Characterization of Gain
• Timing / Accrual Rules
• Apportionment of Nonresident’s Proceeds
• Sales Tax Implications
• Bulk Sale Requirements
• Withholding Considerations
• Due Diligence
• General Contract Provisions
• Real Property Transfer Taxes

Learning Objectives

• Identify the state and local tax implications of business asset sales versus business stock and other intangible asset sales
• Describe how to properly apportion and allocate different categories of gain from business sales
• Recognize sales and use tax reporting obligations & withholding considerations related to the sale of a business
• Recognize how to manage due diligence processes and review contractual language related to key state and local tax considerations

12/2/2024 3:00 - 5:00 p.m. ET
Multistate Income Sourcing: Performance Based vs. Market Based Sourcing
Presenters: Debra S. Herman, Elizabeth Pascal, and Mario T. Caito 

States use a variety of methods to source the income or profits from multijurisdictional businesses. This program will discuss sourcing issues and methods, including cost of performance and market-based sourcing. Recent developments, including new market-based sourcing regulations and key cases involving what constitutes an income-producing activity, will be reviewed to help companies and professionals properly characterize business activities for purposes of apportionment, understand complex hierarchal rules for sourcing receipts from digital products or services, as well as when to consider a request for alternative apportionment.  

Topics Covered

• Formula apportionment and single factor apportionment
• Sourcing receipts from sales of tangible personal property and digital products
• Sourcing service receipts: cost of performance vs. market-based sourcing
• Special apportionment rules for certain industries
• Equitable apportionment/Alternative apportionment
• Treatment of apportionment formulas in combined and consolidated returns

Learning Objectives

• Understand how to characterize business activities for purposes of apportionment
• Navigate the nuances of cost of performance and market-based sourcing
• Identify alternative apportionment considerations
• Recognize key audit issues and understand steps to address such issues at the tax return filing stage

12/3/2024 12:00 - 2:00 p.m. ET
Managing a Multistate Voluntary Disclosure Process in an Economic Nexus World
Presenters: K. Craig Reilly and Brandon J. Bourg

Economic nexus now impacts both sales and use and income tax filing obligations around the country. As a result, many businesses have surpassed economic nexus thresholds in unfamiliar jurisdictions and found themselves with unexpected past due liabilities. Thankfully, almost every state offers eligible taxpayers the option to address their liabilities through voluntary disclosure programs, which offer valuable benefits, such as limited lookbacks and automatic penalty abatement. Navigating a multistate voluntary disclosure process, however, requires significant planning and understanding of the rules in various jurisdictions.
During this program, voluntary disclosure attorneys will outline the issues to consider before taking advantage of the benefits of a voluntary disclosure program. The program will offer practical solutions and help answer important voluntary disclosure-related questions. Are registered taxpayers eligible for voluntary disclosure? Should all applications be submitted anonymously? Which states participate in the Multistate Tax Commission (MTC) voluntary disclosure program? What is the standard lookback period? Is penalty abatement available when sales and use taxes have been collected but not remitted?

Topics Covered

• Overview of economic nexus rules
• Voluntary disclosure eligibility requirements
• Benefits of voluntary disclosure programs
• Multistate Tax Commission (MTC) Disclosure Program
• Practical considerations of where and when to apply

Learning Objectives

• Describe economic nexus rules
• Identify how to manage a multistate voluntary disclosure process
• Identify how to effectively weigh the costs and benefits of multistate voluntary disclosure programs
• Recognize states that enforce de minimis nexus standards
• Identify federal laws that have the potential to minimize the tax burdens of operating in numerous states
• Manage the timeline for efficiently completing a voluntary disclosure process

12/17/2024 12:00 - 2:00 p.m. ET
Changing Your State Tax Residency
Presenters: Andrew W. Wright and Emma M. Savino

Year after year, we continue to see high-net worth individuals move out of high tax states in large numbers. These moves can trigger significant state income tax consequences. Moreover, state tax authorities in these high-tax states are increasingly auditing changes in resident status. This program will discuss the state income tax issues that accompany residency changes, including an overview of the associated nonresident income allocation and apportionment issues.

Topics Covered

• Differing state-level definitions of the term "resident"
• Exceptions to residency
• Overview of nonresident income allocation and apportionment issues
• Resident credits considerations
• Case studies/examples

Learning Objectives

• Understand the varying state-level definitions of "resident"
• Navigate the nuances of statutory residency tests
• Identify state resident credit considerations
• Recognize key audit issues accompanying residency changes

1/9/2025 12:00 - 2:00 p.m. ET
Shrinking Public Law 86-272 Protections
Presenters: Ariele R. Doolittle, Joseph N. Endres, and Joseph F. Tantillo

Public Law 86-272 limits a state's ability to impose state-level income tax on out-of-state businesses that merely solicit orders for tangible personal property within the state. This seminar will explore the recent trends and developments in the interpretation and application of Public Law 86-272, focusing on various states’ efforts to shrink the protections offered to out-of-state businesses in an increasingly digital economy.

Topics Covered

• Historical context of Public Law 86-272
• Recent state interpretations narrowing the law's scope
• Taxpayer-initiated litigation challenging aggressive state interpretations of the law
• Impact of e-commerce and digital transactions on nexus determinations
• Strategies for businesses navigating the changing Public Law 86-272 landscape

Learning Objectives

• Understand the original intent and limitations of Public Law 86-272
• Appreciate recent state actions that have narrowed the law's protections
• Develop strategies to manage tax risk in light of shrinking Public Law 86-272 protections
• Anticipate future trends in state taxation of out-of-state businesses

To register, please click on the titles of the session you would like to attend. For questions regarding program content, email hrsocial@hodgsonruss.net.  

For technical assistance including registration issues: visit CCH customer service/FAQ page: https://www.cchcpelink.com/w/help/. Customers can chat online with CPE Support, submit a support ticket or call 800-344-3734 (available Monday-Friday from 9 a.m. to 6 p.m. ET).