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Author: Michael S. Schadewald, PhD, CPA; John C. Healy, MST, CPA
Description:
States that impose a corporate income tax use an apportionment formula to determine the taxable income of multistate companies. The purpose of the apportionment formula is to approximate how much of the company's activity occurs in the state.
In the past, most states utilized a three-part apportionment formula consisting of a sales factor, a property factor and a payroll factor. However, in recent years more and more states have switched to a formula that either is based entirely upon sales or is heavily weighted toward sales.
This course explains how sales are determined for purposes of the sales factor, how the sales factor is calculated in various states, and how important court decisions concerning the sales factor should be applied to determine the sourcing of sales.
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Course Details:
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Price: $48.00
Field of Study: Taxes
Prerequisites: None
Level: Basic
Advanced Preparation: None
CTEC course number: 1075-CE-5520
Course was last updated on: 02/02/09
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Library:
State Taxation
Technical Requirements:
To view and print downloadable content files available in this program, you will need Adobe Acrobat Reader. You can download the free Reader plugin at Adobe's website by clicking on the icon below, then following the instructions for installation on your computer.
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| Credit Available For: |
Units |
| CPE |
3.0 CPE |
| QAS |
3.0 CPE |
| Enrolled Agent (Accepted by the IRS) |
3.0 CPE |
| CTEC California |
3.0 CE |
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Note: Recommended CPE credit is based on a 50-minute hour. Participants earning credits for states that require self-study to be based on a 100-minute hour will receive half the recommended CPE credits for successful completion of this course.
Since Continuing Professional Education requirements vary from state to state and are subject to change without notice, please contact your state board of accountancy for information on your CPE requirements and the applicability of this course to meet those specifications.
CCH has been approved by the California Tax Education Council to offer courses that provide federal and state credit towards the annual "continuing education" requirement imposed by the State of California. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, toll-free by phone at (877) 850-2832, or on the Internet at www.ctec.org.
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