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NC State & Local Tax Conference (Live Streaming Webcast)

8:00 am–4:45 pm ET

# of CPE Credits

8

Description

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. 

Objective

Participants will be able to discuss important topics related to North Carolina state and local taxation, including updated information on new tax laws.

Highlights

Please see objectives.

Who Should Attend

CPAs in public practice or industry who practice in tax

Required Knowledge

None

Advanced Prep

None

Event Speaker(s)

John R. Bradford, III ( NC General Assembly - Legislative Office, Raleigh, NC ), Mr. Robert Joseph Broome, CAE ( NCACPA, Raleigh, NC ), Laquanda Brown ( Department of the State Treasurer, Raleigh, NC ), Andrew D. Grace ( KPMG, LLP, Baltimore, MD ), Michael Hannah, Esq., CPA ( Michael A. Hannah, Bear Creek, NC ), Mr. Jeff Hendrickson ( Martin Marietta Materials Inc., Raleigh, NC ), Jeffrey Thomas Hendrickson ( Martin Marietta Materials Inc., Raleigh, NC ), Ms. Kathleen Marie Holston, CPA ( WebsterRogers, LLP, Myrtle Beach, SC ), Mr. Stuart Bryan Lockerbie, CPA ( Lockerbie Tax, LLC, Mint Hill, NC ), Jeana Parker, JD, MBA ( KPMG, LLP, Raleigh, NC ), Mr. Jack Schmoll, CPA ( Schmoll CPA PLLC, Charlotte, NC ), Brian Tennie ( Department of the State Treasurer, Raleigh, NC ), Mr. James Hamilton Turner, Jr., CPA ( Turner Business Appraisers Inc., Matthews, NC ), William P. Young ( North Carolina Department of Revenue, Raleigh, NC ),

Additional Event Information

Technical Support
[email protected], and a team member will contact you shortly.

If you need assistance with internet access issues, browser capability, or when the NCACPA office is closed* please call Freestone Technical Support at 866-702-3278 or by email at [email protected].

*NCACPA office hours are 9:00 am–5:00 pm ET. Online Learning Team members will be available via phone or email 30 minutes prior to the start of a live online program.


Sessions

Wednesday, December 7, 2022 (8:00 am–9:00 am ET)

General #1: Nexus Issues & Awareness
Mr. Jack Schmoll, CPA ( Schmoll CPA PLLC, Charlotte, NC ),

This session will discuss the ever evolving nexus environment.

Topics will include:
* Eroding PL 86-272 protections
* Economic nexus
* Physical nexus
* Remote workers and nexus
* Gross receipts tax nexus

Field of Study: Taxes

Wednesday, December 7, 2022 (9:10 am–10:10 am ET)

1A: NC Pass-Through Entity Tax Election
William P. Young ( North Carolina Department of Revenue, Raleigh, NC ),

North Carolina has now joined several other states in enacting legislation meant to reduce the impact of the federal SALT deduction cap on an individual’s federal income tax return. This session will provide an overview of North Carolina’s SALT Workaround, including:
o Making the Taxed Pass-Through Entity (PTE) election.
o Calculating the Taxed PTE income tax.
o Making Taxed PTE tax payments.
o The impact of the Taxed PTE election on PTE owners’ NC individual income tax returns.
This session will also provide a brief overview of other legislative changes impacting individuals, including:
o New NC net operating loss provisions.
o Deduction for military retirement pay.
o Student loan forgiveness.

Field of Study: Taxes

Wednesday, December 7, 2022 (9:10 am–10:10 am ET)

1B: Compliance with Unclaimed Property Regulations
Laquanda Brown ( Department of the State Treasurer, Raleigh, NC ), Brian Tennie ( Department of the State Treasurer, Raleigh, NC ),

The North Carolina Department of State Treasurer (State) is responsible for administering the North Carolina Unclaimed Property Act in accordance with Chapter 116B of the North Carolina General Statutes. By law, unclaimed property is reported and remitted or delivered to the State for safekeeping. The Unclaimed Property Division is responsible for recovering, safekeeping, and returning such property to its rightful owner.
This presentation will provide information, resources, and tools to assist with compliance in North Carolina’s unclaimed property laws.

Field of Study: Taxes

Wednesday, December 7, 2022 (10:20 am–11:20 am ET)

2A: NC Sales Tax (Basic)
Michael Hannah, Esq., CPA ( Michael A. Hannah, Bear Creek, NC ),

State sales & use taxes present some of the most challenging issues confronted by tax practitioners and their clients. Businesses can oftentimes engage in transactions that unknowingly create a liability and result in substantial assessments of tax, penalties and interest. This session provides a basic understanding of the sales & use tax laws that apply to the daily transactions your clients engage in and will allow you to better advise clients on understanding and properly applying sales & use tax statutes to the various transactions they encounter while conducting business in North Carolina and other states.

Field of Study: Taxes

Wednesday, December 7, 2022 (10:20 am–11:20 am ET)

2B: Property Tax
Mr. James Hamilton Turner, Jr., CPA ( Turner Business Appraisers Inc., Matthews, NC ),

In this session we will cover Property Taxation in North Carolina from A to Z. Topics to be explored include how to reduce your client’s property tax bill, the appeals process, and business personal property audits.

Field of Study: Taxes

Wednesday, December 7, 2022 (11:30 am–12:30 pm ET)

3A: NC Individual Tax (Basic)
Michael Hannah, Esq., CPA ( Michael A. Hannah, Bear Creek, NC ),

North Carolina has enacted more significant changes to its personal income tax statutes in the last decade than in the prior 30 years. The number of yearly tax changes, administrative interpretations and modifications to the State tax forms make advising your clients more difficult than ever. This session will provide you with a basic understanding of the most current tax statutes and detailed interpretations of those statutes by the North Carolina Department of Revenue to better assist you with advising your clients on how to timely and properly filing all required forms.

Field of Study: Taxes

Wednesday, December 7, 2022 (11:30 am–12:30 pm ET)

3B: NC Sales Tax (Advanced)
Mr. Jack Schmoll, CPA ( Schmoll CPA PLLC, Charlotte, NC ),

This session will include discussion of the following topics, among others:

Repair, maintenance, and installation
– RMI and construction
– RMI and property management
Service contracts
Bundled transactions
Audits and appeals
Letter rulings

Field of Study: Taxes

Wednesday, December 7, 2022 (1:30 pm–2:30 pm ET)

4A: NC Corporate Income and Franchise Tax Overview
Mr. Stuart Bryan Lockerbie, CPA ( Lockerbie Tax, LLC, Mint Hill, NC ),

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. We will start with some of the basic issues concerning income computation and allocation and apportionment questions as well as addressing some of the NC-specific modifications.

• Income franchise tax basics • Key points or traps • NC-specific modifications

Field of Study: Taxes

Wednesday, December 7, 2022 (1:30 pm–2:30 pm ET)

4B: State Tax Research
Andrew D. Grace ( KPMG, LLP, Baltimore, MD ), Jeana Parker, JD, MBA ( KPMG, LLP, Raleigh, NC ),

The overriding purpose of tax research is to find guidance on the tax problems of one’s clients. Tax research is the process of identifying the law that governs an activity and finding materials that explain or analyze that law. Ineffective research wastes time, and inaccurate research leads to inaccurate guidance. The capacity to solve tax problems rapidly and accurately can best be developed by constructing a systematic approach to tax research. This session will cover some tips and tricks regarding state tax research.

Learning objectives: After attending this session, the participate will be able to determine ways to streamline their own research and identify help tax research tools and resources.

Field of Study: Taxes

Wednesday, December 7, 2022 (2:40 pm–3:35 pm ET)

5A: Income Tax Sourcing (NC & Multi)
Ms. Kathleen Marie Holston, CPA ( WebsterRogers, LLP, Myrtle Beach, SC ),

Businesses are filing income tax returns in an ever-increasing number of states. How they source revenue for state apportionment purposes can greatly impact their total tax liability. This session will discuss sourcing of revenue for the sales factor element of state apportionment. We will cover both North Carolina and multistate concepts and developments, including opportunities created by the recent change in North Carolina’s sourcing rules.

Wednesday, December 7, 2022 (2:40 pm–3:35 pm ET)

5B: Sales Tax Audit Best Practices
Mr. Jeff Hendrickson ( Martin Marietta Materials Inc., Raleigh, NC ), Jeffrey Thomas Hendrickson ( Martin Marietta Materials Inc., Raleigh, NC ),

In this session, the speaker will explain the cycle of the sales and use tax audit process, from initial notification to final payment or settlement. He will discuss strategies to ensure that the audit gets managed in a manner that leads to the best outcome for the taxpayer. He will also discuss recommendations for setting timelines and establishing an effective working relationship between the taxpayer and auditor. Finally, he will discuss and share options and remedies available to the taxpayer to deal with challenging matters relating to lack of records, insufficient support, and items in dispute.

Wednesday, December 7, 2022 (3:45 pm–4:45 pm ET)

General #2: State Tax Advocacy: Panel
John R. Bradford, III ( NC General Assembly - Legislative Office, Raleigh, NC ), Mr. Robert Joseph Broome, CAE ( NCACPA, Raleigh, NC ),

This session features leaders of the North Carolina House and Senate Finance Committees and NCACPA’s Director of Advocacy as they highlight tax law changes enacted by the General Assembly, discuss the impact of the 2022 general election results, and share their predictions about tax and finance topics that may be addressed in the upcoming legislative session.

Field of Study: Taxes


Share This Event

Event Vendor:NCACPA
Field of Study:Taxes
Level: Update

Event Type:Conference
NASBA Instructional Method:Group Live
Event Code:WCNTAX22


eSponsor Sponsor


Registration Fees

RegistrationEarly BirdRegular
NCACPA MemberN/A$285.00
Non-MemberN/A$385.00
CPE Sponsors LogoThe North Carolina Association of Certified Public Accountants is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org/.

For information regarding refund, complaint, program cancellation or other policies, visit our Registration Policies page or call 800-469-1352.