Composite Returns and Nonresident Withholding for Pass-Through Entities: Navigating the Multistate Complexities
Determining Whether to File Composite Returns, Dealing With Withholding Requirements
Recording of a 110-minute CPE webinar with Q&A
This webinar will offer tax professionals a deep dive into thorough and timely presentation of the composite tax provisions and withholding requirements of pass-through entities with nonresident shareholders and/or partners. The panel will provide an advanced-level look at the specific issues facing tax advisers to pass-through entities surrounding composite returns and withholding requirements for pass-through entities that have nonresident shareholders.
- Landscape of withholding requirements and composite returns
- Withholding requirements on nonresident shareholders/partners
- Measures to enforce nonresident filing and payment of taxes
- Mechanics of electing and filing composite returns
- Taxation of disposition of interest by nonresident
- Tax reporting and planning issues specific to S corporations
- Elections and strategies
The panel will discuss these and other important questions:
- Which states offer elections other than defaulting to withholding on nonresident partners or shareholders?
- What are the built-in exceptions to withholding requirements for pass-through entities with nonresident shareholders?
- Which states offer the option of electing to file composite returns? Which states require composites?
- When should a pass-through entity not elect to file a composite return?
- What are the specific risks to identify and avoid in withholding for nonresident shareholders or partners?
Jeffrey K. Schuetz, CMI
Mr. Schuetz focuses on state and local tax services and is a member of his firm's Construction Services and... | Read More
Mr. Schuetz focuses on state and local tax services and is a member of his firm's Construction Services and Manufacturing and Distribution Services Industry Groups. He provides tax consulting and planning services to clients. He has more than 17 years of federal, state and local tax experience, and previously worked as a tax manager at Insituform Technologies Inc. and as a field auditor with the Missouri Department of Revenue. He presents at various educational forums.Close
JoAnna Fu Simek
Ms. Simek focuses on federal and state income tax planning for C-corps, S-corps, partnerships, LLCs, and individuals.... | Read More
Ms. Simek focuses on federal and state income tax planning for C-corps, S-corps, partnerships, LLCs, and individuals. She specializes in consolidated corporations and unitary groups, particularly for firms involved in manufacturing/distribution, technology/software, and start-ups. In the area of state and local sales and use tax consulting she counsels on audit defense, reverse audits, voluntary disclosure agreements, research matrices, transaction analysis, mergers and acquisitions, certificate management systems, protest procedures and support, and nexus studies. She also works on international tax compliance for US companies and US tax implications for foreign companies.Close
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