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Nexus School

Statistical Sampling for Sales and Use Tax Audits

Computer Assisted Audit Techniques Using Excel & Basic Random Sampling

Corporate Income Tax


Corporate Income Tax
Principles and Audit Techniques for Allocation and Apportionment

Click here for a PDF copy 

Understanding constitutional principles and mechanics that apply to corporate income tax apportionment is essential for those involved with legislative, legal and audit aspects of the corporate income tax.nexus

OBJECTIVE: 
At the end of Part One, students will have a thorough understanding of law and mechanics for the apportionment of corporate income tax. At the end of Part Two, students will have a thorough understanding of techniques needed for the audit of a multistate business. For sessions with a combined reporting emphasis, students will have an understanding of the unitary business principle and combined reporting mechanics.

AUDIENCE:
Part One: (2 days) is for any state revenue employee (lawyer, auditor, policy analyst or other) and can be taken on a stand-alone basis.

Part Two: (2 days) is for state auditors or those who support state audit work. Part Two students must also take Part One of the course.

PREREQUISITES:
Significant experience with state corporate income tax concepts.

STUDENT REQUIREMENTS:
Part Two students must have laptop computers with Excel 2010 and a CD-Drive or a free USB port to enable the sharing of files. Many of the Part Two problems use Excel spreadsheet software.

PROGRAM LEVEL:
Intermediate

PROGRAM CONTENT:   
Part One: Provides all participants with an understanding of the principles and limitations of corporate income taxes. Particular emphasis is directed to the unitary business principle, the determination of apportionable income, the apportionment formula, combined reporting, and various other issues associated with income attribution and apportionment. Course materials for Part One incorporate the law and practice of the host state.

Part Two: Introduces or refreshes the student (depending on the knowledge and experience of the student) to techniques for the audit of a multistate business. It includes the following topics: pre-audit procedures, conducting unitary investigations, computing combined income, analyzing business/non-business income issues, computing state modifications, computing the combined apportionment factor, computing net operating losses, and analyzing nexus issues. Problem sets are utilized and audit techniques are discussed throughout this section of the course. It concludes with a comprehensive problem.

COURSE MATERIALS:  
All participants receive a comprehensive outline regarding state income tax concepts. Part Two students receive a comprehensive course binder which includes course materials and problems sets, and a template for the comprehensive course problem.

ADVANCE PREPARATION:  
None

INSTRUCTIONAL DELIVERY METHOD:  
Group-Live

RECOMMENDED CPE CREDIT:    
32 hours

REGISTRATION INFORMATION:  
Contact Antonio Soto at (202) 650-0297.

For more information on MTC's training programs, please visit the Training Program page.

 
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