CPE Course New Hampshire Taxation of Businesses and Their Owners
May 24, 2017
8:30am — 4:15pm
Field of Interest Taxation (General)
This seminar is designed for tax professionals whose clients are New Hampshire residents, have business activity within New Hampshire, deduct compensation for the personal services of the shareholders, partners, members and proprietors of the businesses, and who make distributions from their unincorporated businesses that are not compensation for their personal services. Participants should have a general knowledge of the BPT, BET and the I&D as well as Federal Income Tax principals relating to corporations, partnership and proprietorships.
8.00 creditsView Cart
This is a 1-day seminar (8 credits) led by Maurice Gilbert, CPA, MST. Topics include the three major taxes affecting businesses and their owners in NH: the Business Enterprise Tax (BET), the Business Profits Tax (BPT), and the Interest & Dividends Tax (I&D). Topics involving the BET will include an overview of the components of the enterprise value tax base, the apportionment provisions for the BET and issues related to leased employees. With respect to the BPT, topics include the economic nexus standard, definitions of business organization and business activity, the implications associated with market-based sourcing of receipts for purposes of apportionment, the additions and deductions to federal taxable income, the elimination of the basis step-up adjustment and a brief overview of reasonable compensation and the combined reporting requirements for unitary businesses. The I & D segment of the seminar will include a review of the provisions relating to distributions from partnerships and limited liability companies, the importance of the definition of “transferrable interests”, conversions of corporations and other business organization with transferable interests to minimize the tax impact on distributions and the planning opportunities that result from the recent elimination of trusts as taxpayers and trust distributions from the definition of dividend. The seminar will also discuss the status of any 2017 legislation that may impact these main taxes for businesses and their owners.
Devine, Millimet & Branch, PA