Advanced Multistate Taxation of Partnerships and Individual Partners
Business vs. Nonbusiness Income Characterization, Reconciling Conflicting State Tax Treatments and More
Note: CLE credit is not offered on this program
Recording of a 110-minute CPE webinar with Q&A
This webinar will give partnership tax advisers a thorough and comprehensive exploration into advanced multistate tax issues facing partnerships with income or operations in multiple states. The program will provide tax advisers and professionals with a detailed and practical guide to critical state tax issues and trends impacting individual partners owning shares of multistate partnerships. The panel will discuss critical questions such as whether the character of pass-through income is determined at partner or partnership level, and whether to consider the pass-through income on an "aggregate" basis or at the "entity" basis.
Outline
- Allocation vs. apportionment of partnership income
- Business vs. nonbusiness income: differing state approaches
- Aggregate vs. entity approach
- States providing option of composite return
- State requiring withholding on nonresident partners
Benefits
The panel will discuss these and other critical matters:
- States that require business/nonbusiness income determination at partner vs. partnership level
- Partnership income on aggregate basis vs. entity basis
- Apportionment under the aggregate approach
- State withholding
Faculty
Elil Shunmugavel Arasu
STS-SALT Managing Director
BDO USA
Ms. Arasu has more than 15 years of state tax consulting experience within a public accounting environment and... | Read More
Ms. Arasu has more than 15 years of state tax consulting experience within a public accounting environment and concentrates on income and franchise tax issues such as nexus, state tax base modifications, apportionment of income, business/non-business income, unitary taxation, gross receipt taxes, allocation of partnership items, and state filing options. Ms. Arasu consults on all aspects of state income tax, including participating in M&A transactions, due diligence reviews, representation on state tax controversy matters, and assisting companies with state tax compliance and state tax accrual reviews. She has worked with Fortune 1000 and mid-size companies in industries such as manufacturing, retail, healthcare, hospitality, real estate, technology, and transportation.
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Taryn Goldstein, JD, LLM
SALT Managing Director
BDO USA
Ms. Goldstein leads the BDO Florida State and Local Tax practice as well as the southeast Credits and Incentives... | Read More
Ms. Goldstein leads the BDO Florida State and Local Tax practice as well as the southeast Credits and Incentives practice. She as over 20 years of tax technical and business development experience, including more than 15 years in Big Four public accounting and international law firms. Ms. Goldstein also spent several years in-house with a local public company to coordinate the state, federal and international tax structuring and due diligence for the initial public offering of their new Up-C Yieldco structure. She has extensive experience in state income/franchise tax, including apportionment planning, nexus studies, due diligence, restructuring to optimize state effective tax rates, and provision preparation and review. Ms. Goldstein also has deep technical knowledge of the new state and local sales tax implications created by the Wayfair decision. She works closely with businesses to evaluate their sales tax nexus and potential exposure under the new rules, and provides mitigation strategies, including voluntary disclosure agreements and negotiated settlements. Ms. Goldstein applies her financial statement experience to draft and review accrual positions under ASC 450 and ASC 470. As the state technical expert for Florida, she handles state audit defense, private letter rulings and voluntary disclosures for all state and local subspecialities.
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David LaRosa
SALT Senior Manager
BDO USA
Mr. LaRosa has 10 years of both federal and state tax experience, primarily at a big 4 accounting firm. He has... | Read More
Mr. LaRosa has 10 years of both federal and state tax experience, primarily at a big 4 accounting firm. He has extensive experience with pass-through entities state compliance and consulting related to the sale of such entities. Mr. LaRosa also manages sophisticated multinational compliance engagements and has extensive experience in preparation and review of ASC 740 for state provision purposes. He also assists clients in voluntary disclosure agreements, audit defense and state nexus/sourcing studies. Mr. LaRosa has served clients in various sectors, including pharmaceuticals, software, staffing, hospitality and retail.
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