A Complete Guide to the Yellow Book

Overview

You could pay $0 for this course!
A thorough understanding of the Yellow Book is essential for anyone working with governments and not-for-profits. This course provides comprehensive coverage of Yellow Book requirements while building confidence and proficiency in performing Yellow Book audits. The course uses a highly illustrative and engaging format, featuring more than 25 focused exercises designed to strengthen practical application and enhance working knowledge.

Firms/companies with fewer than 50 staff can be reimbursed up to 100% of the cost of training and firms/companies with 50-100 employees can be reimbursed up to 50% of the cost of training. You must register for the course and apply for reimbursement through the Workforce Training Express Fund website a minimum of three weeks prior to the start of the course to be eligible. The course code for this program is C-12981. To learn more, click here or contact Julia Ekelund at jekelund@masscpas.org.

Highlights

The domicile dilemma: Issues for individuals with homes in multiple states; traveling employees; where to withhold Elimination of the physical presence standard in determining nexus (Wayfair case); economic nexus for remote sellers; assisting remote sellers in determining a plan of action in states that enforce economic nexus Emerging compliance issues in the new sales tax economy Income tax (and other forms of tax); economic nexus (taxation without physical presence) Attributional and agency nexus; presence of intangible property Is P.L. 86-272 still valid? Income tax apportionment issues: Prevalence of the single-sales factor; determining the type of property being sold; sourcing of income from intangible property and services; sourcing of service income; market-based versus cost of performance Pass-through problems: Nexus issues for interest owners Treatment of the §199A deduction for pass-through entities by states: Withholding issues; sourcing of income; taxation at the entity level Practical considerations in dealing with multistate taxation: Dealing with state nexus questionnaires When to consider voluntary compliance: Responsibility of officers, members, partners, and shareholders; planning ideas and opportunities; updates on pending federal legislation relative to state tax

Designed For

Accountants who want an update on current multistate tax issues to minimize clients’ potential state and local tax liability

Objectives

Recognize changes in state statutes, regulations, and case law Identify areas that may require additional attention for state tax planning purposes Recall areas that may be costly for employers or clients Recognize the who, what, when, and where of nexus for income and sales tax