Texas Franchise Tax: Sourcing Rules, COGS Calculations, Entity Issues, and Combined Reporting
Note: CLE credit is not offered on this program
A live 110-minute CPE webinar with interactive Q&A
This course will provide a guide to various compliance requirements and planning opportunities related to the Texas Franchise Tax. The program will discuss options for calculating and reporting the most challenging aspects of the tax, including the most recent sourcing regulations, identifying Texas cost of goods sold, apportioning margin to Texas, issues particular to partnerships and LLCs, and combined reporting questions.
Outline
- Introduction
- Legislative and case law update
- Elimination of No Tax Due Report
- Other updates
- Recent amendments
- Margin tax calculation options
- Issues in computing revenues
- Recent changes to tax rates and structure
- Electing deductions
- Combined reporting and affiliated entities
- Other recent developments
Benefits
The panel will give guidance to deal with these and other key issues:
- Industry-specific issues, particularly concerning the cost of goods sold calculation
- Identifying affiliates and addressing combined reporting issues
- How the Sirius XM Radio decision affects the taxation of companies doing business in Texas
- Tax base alternatives: identifying the method that will result in the lowest tax bill for your company
- Mining tax planning opportunities: the apportionment formula, passive entities, maximizing deductions, and other areas
- Anticipating tough audits: where the state is likely to challenge your business on the tax calculation, a unitary filing declaration, etc.
Faculty
Bill Crow, JD
Lead SALT Counsel
Christian Tax Advisors
Mr. Crow is Lead SALT Counsel for CTA. He brings over 25 years of multistate tax experience including tenure as an... | Read More
Mr. Crow is Lead SALT Counsel for CTA. He brings over 25 years of multistate tax experience including tenure as an in-house tax counsel for a supermajor oil company and as a manager and partner for major tax consulting firms (including Big 4). Mr. Crow has assisted clients across the state and local tax spectrum, including income/franchise, sales/use, and property tax matters clients in nearly 50 states.
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Christina A. Mondrik, Esq., CPA
Attorney
Mondrik & Associates
Ms. Mondrik, focuses her practice on state and federal tax controversies and litigation. She is board certified in... | Read More
Ms. Mondrik, focuses her practice on state and federal tax controversies and litigation. She is board certified in tax law by the Texas Board of Legal Specialization. She handles IRS cases involving substantial corporate, individual and estate taxes. Her state tax experience includes disputes arising under Texas franchise tax, sales and use tax, fuel taxes, severance taxes, motor vehicle sales tax, and other state taxes. She was the 2009-13 chair of the TSCPA state taxation committee and the chair of the 2009-10 state tax conference committee. As chair of the state tax committee of the TSCPA, she was a principal drafter of comments submitted by the TSCPA in response to legislation implementing the Texas margin tax and to administrative rules promulgated under the various state taxes.
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