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State Taxation of Gross Receipts: Texas Franchise, Oregon CAT, Ohio CAT, Nevada Commerce, Washington B&O, and Other Local GR Taxes

Recording of a 110-minute CPE webinar with Q&A

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Conducted on Thursday, February 2, 2023

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This course will address how to manage the increasingly popular gross receipts taxes (GRTs) charged by states. The panel will cover Oregon's corporate activity tax (CAT), Texas' franchise tax amendments, Ohio's CAT, along with other states as well as a few local gross receipts taxing regimes. The speakers will discuss which businesses are subject to these taxes, what constitutes nexus in these states, and how to lessen the tax burden of GRTs on businesses.

Description

Called by many different names--CAT, franchise tax, margins tax, commerce tax, etc.--a GRT is still a tax on receipts. It's a tax that can be charged multiple times on the same product and businesses operating at a loss. As a result, this is an ideal tax for states needing to raise revenue and is being embraced by more and more states and localities. Minimizing the impact of GRTs is an increasingly important concern for businesses and SALT professionals.

With more states charging GRTs, additional planning opportunities exist to minimize the impact of GRTs in these states. Categorizing a business correctly is the first and most important item to consider ensuring it meets nexus criteria. Some states require business registration and minimum fees, even when the business is below the GRT threshold for taxation. Noncompliance can be costly.

Listen as our panel of SALT experts explains the Oregon CAT and who is required to file, recent Texas franchise tax changes, Nevada's commerce tax, and strategies to minimize taxation in other states that raise revenue by taxing gross receipts.

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Outline

  1. Taxation of gross receipts
    1. Overview
    2. Trends
    3. Nexus
  2. Oregon CAT
  3. Texas' amendments to its franchise tax rules
  4. Nevada
  5. Ohio
  6. Other states
  7. Best practices to minimize taxes

Benefits

The panel will review these and other important issues:

  • Who is subject to Oregon's new CAT?
  • What businesses are subject to Texas franchise tax after the recent amendments?
  • How should companies subject to Texas franchise tax under the updated rules handle its retroactive application?
  • What constitutes nexus in states that tax gross receipts?
  • What steps can be taken to minimize tax liability in GRT states?

Faculty

Le, Tram
Tram Le, CPA
Senior Tax Manager
TaxOps

Ms. Le is a CPA and licensed attorney specializing in tax strategies for growing businesses. She works closely with...  |  Read More

Smith, Meredith
Meredith Smith, CPA
Senior Tax Manager
TaxOps

Ms. Smith expertly weaves real-life examples into why business taxpayers, tax professionals, and tax providers should...  |  Read More

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