Tax News

CCH (cch.taxgroup.com) reports:

  CCH Tax and Accounting is hosting a live two-hour audio seminar, Multistate Income Taxation: Determining Tax Base and Using the Unitary Tests, on Tuesday, May 12, 2009, at 1 p.m. Eastern; noon Central; 10 a.m. Pacific. This two-hour CCH Audio Seminar is the first of a three-part series on multistate income taxation presented by noted state tax experts, educators and authors, John C. Healy, M.S.T., CPA, and Bruce Nelson, M.A., CPA. This seminar will demonstrate how to calculate a state's taxable base, defining its scope by determining what is in and what is out of taxable income. Also, the various unitary tests for combined reporting will be explored and the tax base and the unitary concept will be pulled together by addressing the various filing methods: separate, consolidated, and combined.

  Program topics include the following:

  -- Beginning with federal taxable income-is it always appropriate?

  -- Additions to the tax base, including bonus depreciation, related party transactions, state and municipal interest income, state income taxes, and net operating losses

  -- Subtractions from the tax base, including federal and state income taxes, expenses related to nontaxable income, federal interest income, state tax refunds, and the dividends received deduction

  -- Guidelines for filing separate and consolidated returns

  -- Applying the unitary tests: the three unities of ownership, use, and operation, the contribution/dependency tests, factors of profitability

  The learning objectives include:

  -- understanding which activities of a multistate corporation can create income tax nexus

  -- understanding how state taxable income is generally calculated

  -- gaining awareness of the unitary tests

  Registration can be completed online at
http://www.krm.com/cch or by calling 1-800-775-7654. Participants can receive two hours of CPE credit for an additional $25 per person. Firms registering for this audio seminar will also receive a copy of CCH's
Multistate Corporate Tax Course (2009 edition).