2 Credits: Taxes
Filing California taxes for clients residing outside the state presents a unique challenge for tax practitioners, often laden with complexities and nuances. This course, crafted by tax expert Karen Brosi and Susan Maples, the Taxpayers’ Rights Advocate for California’s FTB, specifically addresses these challenges. It offers an in-depth exploration of the top ten challenges that practitioners face, including the intricacies of registering as a foreign business entity, mastering the apportionment rules, understanding the penalties, and the process of entity dissolution. Participants will learn to recognize business taxpayers that meet the definition of ‘doing business’ in California, along with the steps required for out-of-state businesses to register and revive lapsed registrations. Additionally, the course covers California LLC taxation, sales requirements, throwback rules, and the methods of apportionment for California income and franchise taxes. This training is invaluable for practitioners looking to navigate the complexities of California tax law for non-resident clients, ensuring accurate compliance and strategic tax planning.
Upon successful completion of this course, participants will be able to:
- Recognize business taxpayers that meet the definition of ‘doing business’ in California, noting the requirements under Public Law 86-272
- Identify the steps out-of-state businesses must take to register as a foreign business entity in California, and the steps a business must take to revive a lapsed registration
- Determine what constitutes a California LLC, noting the California tax issues impacting LLCs
- Note the sales requirements and throwback rules for purposes of California tax law
- Recognize the methods of apportionment applicable to California income and franchise taxes, noting the impact of cases and rulings
- Specify assessment amounts, tax rate percentages, and waiver requirements for California income and franchise taxes
- Identify mandatory e-filing requirements for businesses filing tax returns in California
- Recognize the steps in dissolving an entity with the California Secretary of State and the Franchise Tax Board
- Note the applicable penalties for failure to file and failure to pay, and the requirements for penalty relief through the Voluntary Disclosure Program
- Note the characteristics and requirements of the MyFTB account for businesses
February 8, 2023
There are no prerequisites.
CTEC Course Number: 2071-CE-1210
CTEC State Credits: 2
CFP Notice: Not all courses that qualify for CFP® credit are registered by Western CPE. If a course does not have a CFP registration number in the compliance section, the continuing education will need to be individually reported with the CFP Board. For more information on the reporting process, required documentation, processing fee, etc., contact the CFP Board. CFP Professionals must take each course in it’s entirety, the CFP Board DOES NOT accept partial credits for courses.
CTEC Notice: California Tax Education Council DOES NOT allow partial credit, course must be taken in entirety. Western CPE has been approved by the California Tax Education Council to offer continuing education courses that count as credit towards the annual “continuing education” requirement imposed by the State of California for CTEC Registered Tax Preparers. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, by phone toll-free at (877) 850-2832, or on the Internet at www.ctec.org.
Meet The Experts
Karen Brosi, CFP, EA, has an extensive California tax practice, advising clients in individual tax and family wealth planning, specializing in complex individual income tax matters and all types of securities transactions. Her background as a CFP and as a tax preparer for the wealthy makes her particularly effective in the tax and financial planning arenas. Karen teaches tax professionals how to avoid tax minefields with her extensive planning checklists and practical tips. Besides being one of the most prominent California tax update instructors, she’s a favorite interviewee on radio, television, and in print media, such as Bloomberg Businessweek. Karen’s powerful real-life …
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