Description
Be aware of the unique compliance challenges that exist in the tax treatment of foreignrelated income.Foreign companies doing business in the U.S. need to navigate the issues around nexus and taxability in the various states. Most rules do not follow federal rules and lack of P.E. may not mean lack of nexus for income tax or sales and use taxes. Determining whether or not an entity is subject to state taxes is only the first step. The mechanics of how to arrive at the taxable state income takes many different factors into consideration. Furthermore, there are nonincome taxes to comply with as well, such as sales and use taxes or gross receipts taxes. Lack of compliance in these areas can pose a detrimental financial risk to foreign entities and should be mitigated as much as possible.
Date: 2021-01-13 Start Time: End Time:
Learning Objectives