Business & Non-Business Income State Tax Update, Jones Day State & Local Tax
February 23, 2012
Whether a given item of income is apportionable business income or allocable nonbusiness income is one of the more complex, and important, issues in state taxation. On
Thursday, February 23rd, 2012, the
Jones Day State and Local Tax Practice will present a live, 60-minute webcast, beginning at
1:00 p.m. EDT, that will review the significant state tax issues in this area. After completing this course you will be able to:
- Identify which states incorporate the UDITPA definitions of business and nonbusiness income
- Explain the connection between the unitary business theory and business income
- Apply case law defining the parameters of the transactional and functional test for business income
- Identify which states may still recognize the extraordinary transaction exception to the functional test for business income
- Identify which states allocate or otherwise exclude certain items of income, such as foreign source income and royalty income
There will be an opportunity to submit questions during the live webcast. There are no prerequisites nor advanced preparation required to attend, but a background in state tax would be useful. This group internet-based webinar will be presented at an Intermediate Level. For additional information, or to address any concerns, please contact Dorinda Graves by telephone at (214) 969-3762 or by email at
.
There is no cost to attend this program and no penalty for cancellations. The live version of this webcast has been approved for 1 hour of Continuing Legal Education (CLE) credit in California, Illinois, New York and Texas. Assistance with individual applications in other jurisdictions is available upon request. Assistance with individual applications for CPE is available upon request.
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