Athletes and Entertainers: Multistate Tax Issues

Authored by Timothy Noonan
About this Course
Topics covered include: Overview of state-residency rules in the determination of state taxes; General rules and guidance concerning multistate taxation of nonresident athletes and entertainers; How residency credits can reduce the effect of multistate taxes; The use of personal service companies to manage tax issues do they still work?; Rules for teams, employers or promoters be wary of withholding taxes; Dealing with state tax audits. Upon completing this course, you should be able to: Recognize the multistate personal income tax treatment, trends and issues related to athletes and entertainers; Identify steps to take and opportunities to pursue to reduce state tax problems for athletes and entertainers; Identify the big three as it relates to a professional athlete/entertainer's tax burden; Differentiate the central issues related to income taxes; Identify one of the basic residency tests; Recognize which states have a state residency test based on domicile or statutory residency; Differentiate proper statements with respect to allocation methods of nonresident income; Identify which state doesn't have a personal income tax withholding; Recognize taxes levied based on away games played in states that impose an income tax; Identify the percentage state income tax can range from; Describe applicable questions with respect to the concept of allocation; Recognize which state has a state residency test based on domicile or non-temporary/transitory purposes; Differentiate factors in the factor-based tests with respect to the concept of residency; Identify athlete case studies related to residency and the process of counting games; Recognize allocation methods most common method and is considered the federal method; Recognize IRS cases considered issues such as place of performance and home base; Differentiate statements regarding signing bonuses; Identify state situations regarding nonresident personal income tax withholdings.
$ 51.00
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NASBA Field of Study
Taxes
Level
Intermediate
CPE Credits
2.0
Prerequisites
Basic understanding of state income tax topics.
Last Updated
01/31/2018
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