Webinar for Japanese-owned U.S. companies: State income, franchise, and gross receipt tax basics
- Date:
- Tuesday, July 13, 2021
- Time:
- 12 p.m. - 1 p.m. EDT
- View In
- English
- 日本語
Sales tax is not the only tax that businesses need to be aware of when operating within a state. In this webinar, we’ll explain other taxes to be aware of, who they apply to, risk mitigation tactics, and more.
Several states have experienced budget shortfalls due to the COVID-19 pandemic. Now, they’re getting increasingly aggressive in proper filing and collection of income, franchise, and gross receipt taxes. We will help you gain an understanding of when a business may be subject to an income, franchise, and gross receipt tax in this webinar.We’ll also explain the differences between a sales tax and income, franchise, and gross receipt tax as well as when a business may be subject to either of them. We will discuss income tax nexus and the protections of PL 86-272 allotted to certain taxpayers. Finally, we will review commonly overlooked gross receipt taxes and methods on how to mitigate risk on past due or unfiled tax returns.
Learning objectives:
- Obtain an understanding of the basics of state income, franchise, and gross receipt taxes.
- Learn the differences between a state sales tax, income tax, franchise tax, and gross receipt tax.
- Explore common examples of states that impose a gross receipt tax.
- Learn the basics of income tax nexus and PL 86-272.
- Learn methods to mitigate risk on underpayment of any income, franchise, or gross receipt tax.
Presenters:
- Keely Cox, manager, State and Local Tax – Denver
- Adam Garn, senior manager, State and Local Tax – Columbus
- Hiro Kishinaka, principal, Japanese Business Services – Columbus
Live webinar in English and Japanese (live presentation and Q&A)
