August 2, 2017
8:30am - 4:45pm
MCM Elegante - Odessa
Non Member: $450
Mr. Jimmy Fredrick Martens, CPA
During 2015 and 2016, the courts were very active in issuing opinions interpreting revenue exclusions and the COGS calculations. Presently, many cases are pending, the outcomes of which will significantly impact the past and present franchise tax liabilities of Texas and out-of-state businesses.
who should attend
CPAs who have a basic knowledge of the revised franchise (margin) tax who seek to properly advise their clients of its effects on their businesses and transactions they may undertake.
After discussing the basic rules for context, attendees will learn the complex, current issues and opportunities surrounding this novel tax. The course instructors are the trial and appellate attorneys who tried many of these cases to their successful conclusion.
- We’ll discuss the impact of recent court cases affecting the Cost of Goods Sold deduction, including Gulf Copper & Manufacturing, CGG Veritas, AMC Theatres, and others.
- We’ll also review the recent Apportionment cases of Gulf Chemical & Metallurgical, Hallmark Cards, and Graphic Packaging and discuss the opportunities those cases present..
- Then, we’ll examine the Comptroller’s recent attempt to limit the holding of the pro-taxpayer holding in the Titan Transportation case dealing with the Revenue Exclusion for Real Estate-Related Activities.
- We’ll also discuss the new, complex tax incentives enacted for Texas-based research.
- We’ll work problem sets in all of these areas.
A link to the electronic material will be emailed to you 48 hours prior to the event. Hard copied will not be provided.