Jones Day State & Local Tax Business & Non-Business Income State Tax Update
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 & 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. This webinar will be presented at an Intermediate Level. For additional information, please contact Dorinda Graves at (214) 969-3762 or dkgraves@jonesday.com. There is no cost to attend this program. The live version of this webcast has been approved for 1 hour of Continuing Legal Education (CLE) credit in CA, IL, NY and TX. Assistance with individual applications in other jurisdictions is available upon request. Jones Day is an approved NASBA sponsor for up to 1 hour of CPE credit for this event. Jones Day is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.learningmarket.org.
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