State and Local Tax Considerations Under Current Federal Tax Law

Impact on High-Tax States, SALT Deduction Cap, Deemed Repatriation and Other Conformity Issues

Note: CLE credit is not offered on this program

A live 110-minute CPE webinar with interactive Q&A


Tuesday, May 7, 2019

1:00pm-2:50pm EDT, 10:00am-11:50am PDT

Early Registration Discount Deadline, Friday, April 12, 2019

or call 1-800-926-7926

This webinar will focus on the ripple effect of the new tax law on state taxation. The panel will discuss the limitations and removal of specific state tax benefits within the new tax law causing states to deviate from federal law to maintain or add benefits for individuals and businesses within state borders.

Description

Tax reform is having a significant impact on individual and business taxation. To evaluate the state tax implications of federal tax reform, tax counsel and advisers must understand the federal tax law changes, the items of concern for state and local taxes, and the various state legislative initiatives in response to the new federal tax laws.

Provisions within the newly enacted federal tax law are sending legislators and regulatory authorities scrambling for options to allow individuals and businesses to maintain tax benefits. Notable changes to federal tax law such as the limits on deductions for state taxes, and deemed repatriation of earnings and profits, create a lack of conformity with the federal tax law by many states.

Most states adopt the Internal Revenue Code in some form but approach conformity differently. These conformity issues vary by state, leaving some states wrestling with how to prevent taxpayer windfalls while other states see a spike in tax revenue.

Listen as our panel provides guidance on provisions of the current tax law and the impact on state taxation, the latest legislative developments, and best practices in dealing with state tax reform.

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Outline

  1. Key provisions of federal tax law impacting state corporate and individual taxation
  2. Issues in evaluating conformity with new federal tax law
  3. Update on state legislative developments in response to tax reform
  4. Best practices in advising and preparing taxpayers for the state implications of tax reform

Benefits

The panel will review these and other critical issues:

  • Practical strategies for analyzing the impact of current federal tax law on the various states
  • The effect of deemed repatriation, GILTI, FDII and other federal tax law provisions on state taxpayers
  • The state tax compliance issues created by current federal tax law

Faculty

Cataldo, Michael
Michael J. Cataldo

Shareholder
Cataldo Tax Law

Mr. Cataldo represents corporate and individual clients in state and local tax controversies across the country during...  |  Read More

Reed, Jeffrey
Jeffrey S. Reed

Partner
Kilpatrick Townsend & Stockton

Mr. Reed is the Chair of the State and Local Tax Practice. He represents businesses and individuals in state tax...  |  Read More

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