Nonmembers CPAs pay an additional $21.25 per credit hour for CE classes; nonmember CPAs will be held responsible for paying this additional amount.
COURSE #: 2020011604
Instructor: Christi Mondrik, Attorney, CPA, TBLS Board Certified – Tax Law
Recent cases may significantly impact taxpayers’ ability to reduce their Texas franchise tax liability and potentially claim refunds for prior years. Learn how to identify and preserve the right to these potential exclusions, deductions, refunds, and credits.
This course will incorporate legislative, administrative, and case law interpretations of the Texas franchise tax under the margin calculation and its alternatives.
Over time, the Texas legislature has added new credits and incentives and the courts have offered guidance with respect to tax deductions, exemptions, and exclusions. By 2020 the Comptroller is anticipated to revisit its policies regarding which out-of-state businesses are subject to the tax.
Learn what issues you should bear in mind in planning for audits of new and existing businesses, including tax rates, cost of goods sold computations, compensation issues, revenue exclusions and other traps for the unwary.
Learn how decisions and changes your business may make now in contracting for new work and categorizing costs and expenses may affect its future franchise tax liabilities.
Course Objective(s): Attendees will be able to discuss
- general franchise tax reporting requirements
- taxability issues with respect to various ownership structures
- various computation and deduction issues
- identify unitary tax issues
Prerequisites: The method of presentation is group-live instruction and the program level is review & update. There are no prerequisites for this course nor is there any advanced preparation required.