CONTAX24: NC State & Local Tax

To best serve clients in the state of North Carolina requires staying ahead of the dynamic and changing environment of tax reform. This conference covers the most critical topics in North Carolina state and local taxation, as well as updated information on new tax laws.
 

Highlights: *PTE Update & Review *State Tax Audit Issues *NC Sales Tax Review *NC Corporate Tax *NC Individual Income Tax *Payroll Tax *NC State Tax Update
Who Should Attend: CPAs and other accounting and finance professionals who practice in tax and want to enhance their skills and knowledge.
Event Level: Update
Required Knowledge: None
Advanced Preperation: None
Field of Study: Taxes
CPE: 8.00

 

THANK YOU TO OUR 2024 SPONSORS!

 

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Objectives
  • Participants will be able to discuss important topics related to North Carolina state and local taxation, including updated information on new tax laws and tax law changes.
Event Information
Start Time:
December 03, 2024 8:00 AM Eastern
7:00 AM Central, 6:00 AM Mountain, 5:00 AM Pacific
Add to Calendar:
Estimated Length:
9 hours
Registration Time Remaining:
49 days, 21 hours
Click on a topic name to see details and purchase options.
Tuesday December 3, 2024

This session will provide the latest updates and changes within the North Carolina Department of Revenue (NCDOR).
 

Topics Covered:
•    Recent Legislative Changes: Overview of new tax laws and regulations.
•    Technology Enhancements: Updates on new systems and tools implemented for tax processing.
•    Compliance Initiatives: New compliance programs and enforcement strategies.
•    Customer Service Improvements: Enhancements in taxpayer services and support.
•    Future Plans: Upcoming projects and initiatives.

 

Field of Study: Taxes
CPE: 1.30

Speaker Information
Andrew Furuseth  [ view bio ]

Session objectives include the fundamentals of Pass-Through Entities (PTEs) in North Carolina.

Topics Covered:

• Definition and Types of PTEs: Overview of S-Corporations, Partnerships, and LLCs.

• Tax Treatment: How PTEs are taxed in North Carolina.

• Filing Requirements: Key forms and deadlines for PTEs.

• Recent Changes: Updates on any recent legislative changes affecting PTEs.

• Common Issues and Solutions: Addressing common challenges faced by PTEs.

 

Field of Study: Taxes
CPE: 1.30

Speaker Information
William Young  [ view bio ]

Coming Soon!

 

Field of Study: Taxes
CPE: 1.30

Speaker Information
Jack Schmoll  [ view bio ]

Join Donna as she provides a comprehensive overview of individual income tax in North Carolina.

Topics Covered:

• Tax Rates and Brackets: Current tax rates and income brackets.

• Deductions and Credits: Overview of available deductions and tax credits.

• Filing Requirements: Key forms, deadlines, and filing tips.

• Common Mistakes: Common errors and how to avoid them.

• Recent Changes: Updates on any recent legislative changes affecting individual income tax.

 

Field of Study: Taxes
CPE: 1.30

Speaker Information
Donna Powell  [ view bio ]

This session will:

 

• Explore the intricacies of pass-through entity taxes, with a spotlight on North Carolina's taxed pass-through entity legislation, and see how it stacks up against other states' provisions;

• Delve into the eligibility criteria, the election process, and the calculation of taxable income and tax payments for PTEs; and

• Understand the necessary compliance and reporting requirements and common issues encountered with PTE taxes.

 

This session will also cover the impact of the November elections and some predictions on what might happen with the federal SALT cap and the impact to the state-level PTE taxes.

 

Field of Study: Taxes
CPE: 1.30

Speaker Information
Matt Gentile  [ view bio ]

Coming Soon!

 

Field of Study: Taxes
CPE: 1.20

Speaker Information
Barbara Barger  [ view bio ]
Chris Leja  [ view bio ]

This course provides an essential overview of key multistate income tax concepts for tax professionals working with businesses operating across multiple states. It covers critical topics such as IRC conformity, common state modifications to federal income, bonus depreciation adjustments, and Net Operating Loss (NOL) treatment. Participants will also explore the complexities of allocation and apportionment, franchise taxes, and pass-through entity taxes. The course aims to equip attendees with a foundational understanding of multistate tax rules and their implications for compliance and planning.

 

Course Learning Objectives: 

1. Understand the impact of state conformity to the Internal Revenue Code (IRC) and identify common modifications that states make to federal income for tax purposes.

2. Recognize the differences in bonus depreciation treatment among states and learn how to account for required state-specific adjustments.

3. Analyze allocation and apportionment methods to determine multistate tax liabilities accurately, including understanding the distinctions between different apportionment formulas.

4. Evaluate state-specific Net Operating Loss (NOL) rules and their impact on businesses operating across multiple jurisdictions.

5. Identify key features of franchise taxes and pass-through entity taxes and their implications for multistate compliance and planning.

 

Field of Study: Taxes
CPE: 1.20

Speaker Information
Sabrina Parris  [ view bio ]

Dive into the intricacies of property taxation in North Carolina with Jim Turner, CPA, CVA, in a comprehensive session designed for professionals and business owners. Jim will navigate through the landscape of property tax, discussing its application, exemptions, and impact on tax bills with illustrative examples. Gain insights into the county's valuation methods for business personal property, understand the classification of property, and learn valuable tips for audits, appeals, and property listings. The session concludes with a Q&A segment, ensuring participants leave well-equipped to manage their property tax responsibilities effectively.

 

Field of Study: Taxes
CPE: 1.00

Speaker Information
Chelsie Cornelius  [ view bio ]
Jim Turner  [ view bio ]

 

This session is designed for tax professionals who seek to deepen their understanding of state tax research. With the ever-evolving landscape of state tax regulations, staying current is critical for minimizing risks and optimizing tax positions. Participants will learn the essential skills and tools required to effectively research and interpret state tax laws, rulings, and administrative guidance. The session will also cover the state tax research resources and sources, including primary and secondary databases, online tools, and state government websites.

 

Field of Study: Taxes
CPE: 1.00

Speaker Information
Kathleen Holston  [ view bio ]

Join us for a discussion of some of the general issues related to tax reporting and filing of North Carolina corporate income and franchise tax returns.

Additional topics to include: 
* Apportionment issues
* NOL
* Federal nonconformity issues and developments

 

Field of Study: Taxes
CPE: 1.00

Speaker Information
Jeanna Parker  [ view bio ]

In this session, we will explore the FTC Safeguards Rule, focusing on its application and the required elements your practice must include to ensure compliance. We’ll also provide practical guidance on selecting the right IT vendor or working with your internal team to meet compliance needs. In addition, we’ll discuss the benefits of cyber liability insurance as part of your overall security strategy.

By the end of this session, you’ll have a clear understanding of the FTC Safeguards Rule and its essential elements. Whether you're working with an external IT provider or managing internal teams, you'll leave with practical guidance and actionable steps to enhance your organization’s compliance efforts, strengthen its cybersecurity posture, and understand the role of cyber liability insurance in protecting against financial risks.

 

Field of Study: Information Technology
CPE: 1.00

Speaker Information
Rafe Martin  [ view bio ]

Coming Soon!

 

Field of Study: Specialized Knowledge
CPE: 1.00

Speaker Information
Robert Broome  [ view bio ]
Dave Horne  [ view bio ]
Individual topic purchase: Selected
North Carolina Association of Certified Public Accountants
Taxes: 8.00
Products
CONTAX24: NC State & Local Tax (Early Bird) - Cutoff: 11/18/24
Member: $350.00
Non-Member: $450.00
CONTAX24: NC State & Local Tax
Member: $400.00
Non-Member: $500.00