Legal Series: State Taxes for Software Companies Explored
Overview:
The Knowledge Group’s Legal Series: State Taxes for Software Companies Explored LIVE webcast aims to explore and explain the important issues and latest developments with respect to the potential impact of state taxes being imposed on software companies who may or may not be located in a particular state. In a two-hour live webcast, our panel of experts will explore key developments and their tax implications in the software industry. Speakers will offer insights regarding tax considerations and effective strategies to be progressing towards compliance in order to avoid the risk of potential pitfalls and penalties.
This is a must attend event for CPAs, tax attorneys, tax consultants, tax preparers, and other interested professionals who want to be in the know regarding latest state tax considerations for software companies.
Agenda:
SEGMENT 1:
Jordan M. Goodman, Partner,
Horwood Marcus & Berk Chartered
Constitutional Protections
Commerce Clause
Due Process Clause
Statutory Protections
P.L. 86-272
Internet Tax Freedom Act
“Amazon” Statutes
Income tax
Software as tangible personal property
Software as a service
Software as intangible property
Sales Tax
Software as tangible personal property
Software as a service
Software as intangible property
Nexus – Jurisdiction to Impose a tax.
Sourcing
SEGMENT 2:
Timothy P. Noonan, Partner,
Hodgson Russ LLP
-Scope of Potential Taxes:Software providers need to be keenly aware categories of sales taxes that could apply to their businesses. This framework is key to understanding the different ways states try to tax sales of software. Some look to tax software as tangible personal property. Others look to taxes on certain types of services, such as information services. And many seek to combine these and tax “SaaS” (“software as a service”) transactions.
-Understanding the SaaS Issue:This is perhaps the hottest issue in the multistate sales tax area. States are trying to figure out how to fit the taxation of SaaS into their antiquated sales tax statutes. Some states are aggressively looking to tax SaaS transactions; others have declined to do so; and confusion reigns in many other states. An understanding of how this issue plays out is key to understanding how states will be taxing software companies in the future.
-Handling Audit Issues: There are also many practical considerations that companies need to take into account and plan for when stuck in a difficult sales tax audit. Issues concerning bundling of taxable and nontaxable transactions, so-called “overlapping audit” adjustments, and the customer’s liability for the sales tax all come up when thorny audit issues arise. Understanding how to navigate the audit minefield is key to reducing potential audit exposure.
Who Should Attend:
- CPAs
- Tax Preparers
- Enrolled Agents
- Tax Consultants/managers
- Tax Attorneys
- Tax Advisers
- Finance Executives
- And Other Interested Professionals
JORDAN M. GOODMAN is a partner with the law firm of Horwood Marcus & Berk Chartered, where he co-chairs the …
Timothy P. Noonan, a partner at the law firm Hodgson Russ, practices in the areas of state and local tax …
Course Level:
Intermediate
Advance Preparation:
Print and review course materials
Method of Presentation:
On-demand Webcast
Prerequisite:
NONE
Course Code:
124357
NASBA Field of Study:
Taxes
Total Credits:
2.0 CLE
Login Instructions:
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SPEAKERS' FIRMS:
About Horwood Marcus & Berk Chartered
Horwood Marcus & Berk combines the resources and diversity of a large commercial law practice with the entrepreneurial atmosphere and creativity of a boutique law firm. The firm’s attorneys have traditionally devoted their practices to business law and planning (including mergers, acquisitions and dispositions); state and local tax planning and litigation; real estate; zoning; commercial litigation; corporate and real estate financing and workout work; estate and asset protection planning; probate; and trusts and estates litigation. The firm’s clients are involved in a wide range of activities and include Fortune 500 corporations, mid-size and closely-held companies, and family groups. The unique combination of HMB’s unyielding commitment to service excellence along with its flexible team-building approach enables the firm to deliver outstanding client results.
Website: https://www.hmblaw.com/
About Hodgson Russ LLP
Hodgson Russ attorneys facilitate the U.S. legal aspects of transactions around the world. Firm-wide, they practice in virtually every substantive area of law and generally use multidisciplinary work teams to serve the specific, often complex, needs of clients, which include public and privately held businesses, governmental entities, nonprofit institutions, and individuals. The attorneys in Hodgson Russ’s State & Local Tax Practice Group offer clients exceptional experience in all New York State and City tax issues as well as multistate, international, and cross-border tax matters. Hodgson Russ has offices in New York City, Albany, Buffalo, and Johnstown, New York; Palm Beach, Florida; and Toronto, Ontario.
Website: https://www.hodgsonruss.com/
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