State and Local Tax Challenges With Leases of Equipment and Other Assets

Navigating Differing State Approaches With Sales, Business Personal Property and Income Taxes

Recording of a 120-minute webinar with Q&A


Conducted on Thursday, June 27, 2013
Recorded event now available


This teleconference will provide tax managers and advisors with a review of important trends in multi-state tax treatment of equipment and other asset leases. The discussion will include issues that have confronted lessors and lessees for years, some issues comparatively new on the scene, and some states' specific examples.

Description

Whether a company acts as a lessor or lessee, its tax specialists face thorny issues with leases of equipment and other assets, involving multiple state and local taxes and evolving and longstanding transactions. With sales tax, does a state treat a lessor as an exempt reseller or waive tax on the lease?

States differ widely on whether sales tax applies to leases, leases with an option to buy, or ancillary services. With business personal property taxes, some jurisdictions consider leased equipment the lessee's taxable asset. And, which party gets to depreciate the asset is a key corporate income tax question.

The list lengthens with newer challenges like taxability of leased servers for cloud computing applications, calculation of sales tax on financed capital leases, and leases based on costs per procedure. State tax professionals can benefit from a review of multi-state trends in taxability of asset leases.

Listen as our panelists provide a material overview that will help you keep pace with shifting state and local tax implications for both lessors and lessees.

Outline

  1. Particular sales tax issues with leases of equipment and other assets
    1. Multi-state trends and state examples
  2. Particular business personal property tax issues
    1. Multi-state trends and state examples
  3. Particular state corporate income tax issues
    1. Multi-state trends and state examples
  4. Tax calculation and timing challenges
  5. Cloud computing servers involving leases
  6. New types of convertible and purchase-option leases

Benefits

The panel will explore these and other tough challenges:

  • Longstanding tax questions with leases: Who must collect sales tax on lease purchases or payments and when, do lessors or lessees pay property taxes, who claims depreciation benefits.
  • Arising tax questions: Leasing issues with cloud servers, taxability of cost-per-procedure equipment, etc.
  • Calculation and timing of tax payments: Cost-basis issues, up-front vs. ongoing tax payments, mid-term rollovers to a new lease, and more.

Following the speaker presentations, you'll have an opportunity to get answers to your specific questions during the interactive Q&A.

Upon completing this seminar, you will be prepared to anticipate issues with state and local sales, property and income taxes likely to arise with leases of hard assets, regardless of whether your company is the lessor or lessee.

Faculty

Valerie Pfeiffer, Managing Principal and Founder
Tax Coefficient, Metamora, Mich.

She has more than 30 years of experience in state, federal and international tax work. She is current chair of the Equipment Leasing and Finance Association’s State Government Relations Committee.

Brian Strahle, Senior Manager of State and Local Taxes
Baker Tilly Virchow Krause, Tysons Corner, Va.

He is the SALT Leader in the firm’s Washington, DC office and has more than 17 years of multi-state tax experience. His work covers sales and use, income and franchise, gross receipts and transfer taxes; as well as credits and incentives.

Ordering

Recorded Event

Includes full event recording plus handouts (available after live webinar).

Note: Self-study CPE, RTRP, and EA credits are not offered on recorded events.

Recorded Webinar Download $49.00
Available three business days after the live event

How does this work?

Recorded Audio Download (MP3) $49.00
Available 24 hours after the live event

How does this work?

DVD (Slide Presentation with Audio) $49.00 plus $9.45 S&H
Available ten business days after the live event

CD (Audio with Slide PDFs) $49.00 plus $9.45 S&H
Available ten business days after the live event


On-Demand Seminar - Audio Recording

Includes streaming audio of full program plus handouts (available 24 hours after live program).

Note: Self-study CPE, RTRP, and EA credits are not offered on on-demand webinars.

On-Demand Seminar Audio $49.00
Available 24 hours after the live event

How does this work?

NASBA CPE Sponsor

National Registry of CPE Sponsors

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 credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.learningmarket.org.

Program Materials

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Program Materials

Requires Adobe Reader 8 or later. Download Acrobat FREE.

or call 1-800-926-7926

CPE Credit

Strafford is a NASBA CPE sponsor and our live webinars qualify for CPE credits. They offer you a high quality, cost effective, and convenient CPE option, with no lost travel time or expenses.

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Customer Reviews

I thought that the speakers were very knowledgeable and their presentation materials will be good reference guides.

Claudia Del Castillo, CPA

Sol Schwartz & Associates

I liked the clear and concise manner in which the topics were presented.

Angelina Johnson-Brown

General Electric Company

It was an excellent program!!

Marni Odermann

Supervalue

I especially liked the examples illustrating the topics concepts.

Melinda Tompkins

Holly

Provided a lot of information. Examples made it easier to put in everyday perspective.

Therese Au

Forsythe Technology

or call 1-800-926-7926

Sales and Use Tax Advisory Board

Silvia Aguirre

Principal

CertCapture

Rick Bregitzer

Manager of Domestic Taxes

Parker–Hannifin

Stephanie Anne Lipinski-Galland

Partner

Williams Mullen

Washington, D.C.

Joseph Geiger, Esq., CPA

Tax Consultant

Vertex

Diane Matulich

Senior Manager, Local Taxes

Advanced Micro Devices

Rich Prem

VP of Indirect Taxes and Tax Reporting

Amazon.com

or call 1-800-926-7926

Our Guarantee

Strafford webinars and teleconferences are backed by our 100% Unconditional Money-Back Guarantee: if you are not satisfied with any of our products, simply let us know and get a full refund. For more information regarding complaints and refunds, please contact us at 1-800-926-7926 ext 10.