Multistate Tax Treatment of Multi-Tier Partnerships: Navigating State Rules For Nonresident Tiered Pass-Through Entities
Determining Treatment of Lower-Tier Apportionment Factors, Meeting Withholding and Composite Return Requirements
Note: CLE credit is not offered on this program
Recording of a 110-minute CPE webinar with Q&A
This course will provide tax advisers and compliance professionals with a practical guide to navigating the multistate reporting complexities in multi-tiered partnerships. The panel will outline various state rules governing apportionment of income from lower-tier pass-through entities, withholding requirements, and composite return provisions. The panel will also discuss state approaches to honoring IRC 743(b) adjustments from the upper-tier to the lower-tier partnerships.
- Identifying multi-tier partnerships with multistate filing requirements
- How to determine whether lower-tier apportionment factors flow through to an upper-tier partner
- Withholding requirements
- Composite return rules and exceptions for multi-tier partnerships
The panel will discuss these and other vital questions:
- Which states allow lower-tier partnership's apportionment factors to flow through to the upper-tier partner?
- How does the presence of a tiered partnership impact withholding requirements for nonresident partners?
- Impact of a partnership's status as a tiered entity on composite return requirements
- What states allow tax attributes to flow through to the upper-tier partnership?
Brian T. Lovett, CPA, JD
Mr. Lovett has extensive experience serving the tax needs of both public companies and closely-held businesses,... | Read More
Mr. Lovett has extensive experience serving the tax needs of both public companies and closely-held businesses, including all aspects of tax compliance for partnerships and corporations. He advises clients with regard to the structure and tax consequences of new business ventures, and assists with restructuring existing businesses for increased tax efficiency. Prior to joining his firm, he was with a “Big 4” accounting firm, working closely with large, multinational real estate investment companies.Close
Sara A. Palovick, CPA
Ms. Palovick specializates in real estate, and focuses most of her time in the areas of partnership and individual... | Read More
Ms. Palovick specializates in real estate, and focuses most of her time in the areas of partnership and individual taxation. She assists in all areas of compliance as well as tax planning and succession planning.Close
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CPE credit is not available on downloads.