CPE Course New Hampshire Taxation of Businesses and Their Owners

May 24, 2017

8:30am — 4:15pm

Location Manchester

Member Price $279.00
Non-member Price $379.00

Curriculum Taxation

Field of Interest Taxation (General)

Level Intermediate

Designed For

 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 credits

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Objective

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.

Highlights

Instructors

Mr Maurice P. Gilbert, CPA

Maurice serves the firm’s Tax Group as its Director of State Taxation. Maurice has been actively involved in public accounting and tax administration for more than 40 years. He brings his extensive knowledge of federal and multi-state tax planning, enforcement and compliance procedures to the firm. He assists clients with federal and state tax planning opportunities, evaluates the tax implications of proposed business transactions, and provides analysis on proposed state and federal tax legislation and regulatory changes. Maurice is also available to assist clients with audit issues proposed by the various Departments of Revenue and the Internal Revenue Service (IRS).Prior to his employment with the Devine Millimet Tax Group, Maurice provided tax consulting services to tax practitioners through his CPA proprietorship. For the majority of his career, however, he was employed by the New Hampshire Department of Revenue Administration (DRA). During his 25 year career with the DRA, he was involved with all aspects of NH tax administration including working cooperatively with numerous Departments of Revenue and the IRS. While at the DRA, he served as Chief of Field Audit (1979 to 1983), as Assistant Director of Audit (1983 to 1985) and as Director of Audit (1985 to 2004). Maurice served as a member on the United States Department of the Treasury’s Unitary Tax Task Force established to study the application of combined reporting on a worldwide or water’s-edge basis. Prior to his DRA employment, Maurice worked in the public accounting field with both local and international CPA firms.Maurice has been actively involved with various organizations throughout his professional career. While working at the DRA, he chaired various committees for the Federation of Tax Administrators and the North East States’ Tax Officials Associations. He is a member of the New Hampshire Society of CPAs where he served as the Past President of its Board of Directors and chaired numerous committees including its Uniform Accountancy Act Task Force. Maurice was a co-founder of the Federal Tax Forum, a joint endeavor of the NH Society of CPAs and the NH Bar Association. He currently serves as a member of the Board of Directors and a Vice President of the NH Society of Accountants. Maurice is a member of the Massachusetts Association of Public Accountants. He also served on the Governing Council of the American Institute of CPAs. Maurice has authored numerous articles on New Hampshire taxation topics. He develops and serves as a discussion leader for seminars on New Hampshire tax topics offered through Devine Millimet & Branch Professional Association, the New Hampshire Society of Certified Public Accountants, the New Hampshire Society of Accountants and Boston Tax Institute. Maurice has received various achievement awards for his contributions to the profession. A certified public accountant, Maurice holds a Master of Science in Taxation from Bentley University and a B.S. in Accounting from New Hampshire College, now known as Southern New Hampshire University.close

Prerequisites

Developer

Devine, Millimet & Branch, PA

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