Mastering Multistate Taxation of S Corporations: State Variances in Recognition of S Elections and QSSS
Recording of a 110-minute CPE webinar with Q&A
This course will provide tax preparers and advisers with detailed guidance on the most pervasive issues facing multistate taxation of S corporations. The panel will detail those states that vary from automatic acceptance of the federal S-election, review the composite return requirements, and discuss calculations, adjustments, and filing requirements for those states where the S-election fails and a composite return is not available. The panel will also outline state variances in tax treatments of qualified subchapter S subsidiaries (QSSS).
- Current landscape of state treatment of S corporations
- States with full conformity with federal S-election
- States with partial conformity with federal S-election
- States with intentional nonconformity with federal S-election
- S corporations with nonresident shareholders
- Apportionment and allocation questions
- Taxation of nonresident shareholders
- Composite return requirements
The panel will review these and other key issues:
- What are the current state-by-state mechanics for nonresident S corporations?
- What are the composite return and consent rules in the case of S corporations with nonresident shareholders?
- What are the major state trends for QSSS recognition?
- What calculations, adjustments, and schedules need to be maintained in the case of multistate filings where one state does not recognize S corporation status?
Katy Daiell, CPA, MST
Ms. Daiell has more than 10 years of experience working with public and private clients of varying size and complexity.... | Read More
Ms. Daiell has more than 10 years of experience working with public and private clients of varying size and complexity. She has a diverse background in corporate tax, including preparation and planning for multi-national and multistate corporate enterprises both publicly owned and closely held, pass-through entity taxation, and ASC 740 tax provision preparation and review. Ms. Daiell’s industry experience includes technology and software, manufacturing, alternative investment, professional service firms and real estate. Ms. Daiell has worked for regional, national and international public accounting firms in the past.Close
Sukaina (Suki) Garcia, CPA
Ms. Garcia is a Senior Manager in the Firm’s Boston Office and is a member of the Firm’s Corporate Tax... | Read More
Ms. Garcia is a Senior Manager in the Firm’s Boston Office and is a member of the Firm’s Corporate Tax Services group. She has more than 11 years of experience working with public and private clients of varying size and complexity. Ms. Garcia has a diverse background in entity tax, including preparation and planning for companies various industries and multi state corporate enterprises both publically owned and closely held, passthrough entity taxation and high net-worth individuals. She specializes in state and local taxation. She received her Master’s in the Science of Taxation in 2010 Northeastern University.Close
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