1. 1. #cbizmhmwebinar 1 CBIZ & MHM Executive Education Series Fourth Quarter Accounting and Financial Reporting Update Mike Loritz, Mark Winiarski, Steve Henley Jan. 7 & Jan. 14, 2015
2. 2. #cbizmhmwebinar 2 About Us Together, CBIZ & MHM are a Top Ten accounting provider Offices in most major markets Tax, audit and attest* and advisory services Over 2,900 professionals nationwide A member of Kreston International A global network of independent accounting firms
3. 3. #cbizmhmwebinar 3 Before We Get Started To view this webinar in full screen mode, click on view options in the upper right hand corner. Click the Support tab for technical assistance. If you have a question during the presentation, please use the Q&A feature at the bottom of your screen.
4. 4. #cbizmhmwebinar 4 CPE Credit This webinar is eligible for CPE credit. To receive credit, you will need to answer periodic participation markers throughout the webinar. External participants will receive their CPE certificate via email immediately following the webinar.
5. 5. #cbizmhmwebinar 5 Disclaimer The information in this Executive Education Series course is a brief summary and may not include all the details relevant to your situation. Please contact your service provider to further discuss the impact on your business.
6. 6. #cbizmhmwebinar 6 Presenters Mike has 18 years of experience in public accounting with diversified financial companies and other service based companies, including banking, broker/dealer, investment companies, and other diversified service companies ranging from audits of public entities in the Fortune 100 to small private entities. He is a member of MHM's Professional Standards Group, providing accounting knowledge leadership in the areas of derivative financial instruments, financial instruments, share-based compensation, fair value, revenue recognition and others. 816.945.5611 mloritz@cbiz.com MIKE LORITZ, CPA MHM Shareholder
7. 7. #cbizmhmwebinar 7 Presenters Located in our Kansas City office, Mark is a member of our Professional Standards Group (PSG). Mark's role includes instructing in our national training program, presenting as a subject matter expert at webinars and conferences, and preparing MHM publications on accounting and auditing issues. Mark consults with clients and engagement teams across the country in many areas of accounting and auditing, including business combinations, variable interest entities and revenue recognition for numerous industries including manufacturing, distribution, mining, retail sales, services and software. 816.945.5614 mwiniarski@cbiz.com @KCWini MARK WINIARSKI, CPA MHM Shareholder
8. 8. #cbizmhmwebinar 8 Presenters Steve Henley is the National Tax Practice Leader for CBIZ. Steve's responsibilities include developing and implementing strategies for the successful operation of the tax practice, including national support for the CBIZ MHM's local tax practices through the National Tax Office. 770.858.4500 shenley@cbiz.com STEPHEN HENLEY National Tax Practice Leader CBIZ
9. 9. #cbizmhmwebinar 9 Agenda Accounting Standards Updates 02 01 03 04 Year End Reminders Other Standard Setting Activity Federal Tax Update
10. 10. #cbizmhmwebinar 10 ACCOUNTING STANDARDS UPDATES
11. 11. #cbizmhmwebinar 11 Financial Accounting Standards Board Financial Accounting Standards Board 17 Accounting Standards Updates issued in 2015 Majority are narrow scope or simplifications Three major projects have been approved and are pending final publication in early 2016 Outreach for the priorities of the FASB is expected in early 2016
12. 12. #cbizmhmwebinar 12 Income Taxes ASU 2015-17 Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes Income taxes should be classified as noncurrent on the balance sheet Simplifies accounting eliminating: Categorizing deferred tax assets and liabilities based on the classification of underlying balance sheet item Scheduling out the reversal of net operating loss carryforwards
13. 13. #cbizmhmwebinar 13 Income Taxes ASU 2015-17 Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes Retains the requirements: Presenting all existing disclosures, including the significant components of deferred tax assets and liabilities Net deferred tax assets and liabilities by jurisdiction and tax paying component Presenting current taxes payable/receivable separately from deferred taxes
14. 14. #cbizmhmwebinar 14 Income Taxes ASU 2015-17 Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes Effective date: Public business entities: annual periods beginning after December 15, 2016 (including interim periods) All others: annual periods beginning after December 15, 2017 (interim periods in the following annual period) Early adoption permitted at the beginning of any interim or annual period Application may be either prospective or retrospective
15. 15. #cbizmhmwebinar 15 Accounting for Leases Drafting process is complete, final standard expected in early 2016 Lessor Accounting Fundamentally unchanged Distinction between direct financing and sales type lease will be driven by 3rd party involvement Selling profit on a sales-type lease is recognized upfront Eliminates leveraged lease model
16. 16. #cbizmhmwebinar 16 Accounting for Leases Lessee Accounting All leases are capitalized (except those < 12 months) Finance vs. Operating Leases Distinguish leases in a similar manner as today Finance leases have income statement and cash flow statement recognition similar to a capital lease today Operating leases have income statement and cash flow statement recognition similar to an operating lease today Separation of non-lease components Optional by class
17. 17. #cbizmhmwebinar 17 Accounting for Leases Other expected changes New definition of a lease Implicit rate for discounting lease payments Non-public business entities use the risk free rate Intermediate lessor Eliminates the loss contract guidance Increased disclosures Options, covenants, and similar contractual terms Significant terms that have not commenced Significant judgments
18. 18. #cbizmhmwebinar 18 Accounting for Leases Effective date: Public companies for annual periods beginning after December 15, 2018 (including interim periods) Including not-for-profit entities that have issued, or are a conduit bond obligor for, securities that are traded, listed, or quoted on an exchange or an-over-the-counter market, and Employee benefit plan that files or furnishes statements with or to the SEC All other entities for annual periods beginning after December 15, 2019 (interim periods in the following annual period) Early adoption is permitted
19. 19. #cbizmhmwebinar 19 Accounting for Leases Transition Modified retrospective Recognize right to use asset and lease liability at the date of initial adoption Adjustments recognized through equity Lessee transition elections not to assess: Whether any expired or existing contracts are or contain leases Lease classification for any expired or existing leases Initial direct costs for any existing leases
20. 20. #cbizmhmwebinar 20 Financial Instruments Classification & Measurement Classification and measurement key points: All equity securities measured at fair value except for equity method investments Practicability exception Changes in fair value of financial liability due to instrument specific credit risk presented separately Fair value option is retained Enhanced disclosures Adopted retrospectively
21. 21. #cbizmhmwebinar 21 Financial Instruments Credit Impairment Credit Impairment key points: Scope: financial assets measured at amortized cost Excludes debt securities classified as available-for-sale Requires a current expected credit losses (CECL) model Expected credit losses over the life of a loan are recognized when a loan is originated instead of as losses are incurred Modified retrospective transition requiring a cumulative-effect adjustment on initial adoption
22. 22. #cbizmhmwebinar 22 Financial Instruments Effective Date Financial Instruments Classification & Measurement Public business entities for fiscal years beginning after December 15, 2017 (including interim periods) All other entities fiscal years beginning after December 15, 2018 (interim periods in the following annual period) Financial Instruments Credit Impairment Public business entities (SEC filers) for fiscal years beginning after December 15, 2018 (including interim periods) Public business entities (non-SEC filers) for fiscal years beginning after December 15, 2019 (including interim periods) All other entities for fiscal years beginning after December 15, 2019 (interim periods in the following annual period) 22
23. 23. #cbizmhmwebinar 23 Other FASB Activities Private Company Council (PCC) FASB endorsed new effective date and transition guidance Unconditional one time election to adopt an existing PCC alternatives Allows entity to forgo the initial preferability assessment Will extend the transition guidance for goodwill & the simplified hedge approach Goodwill will be applied prospectively from the date of adoption (i.e. no retrospective application to original effective date)
24. 24. #cbizmhmwebinar 24 Other FASB Activities Ratification of EITF consensus Recognition of Breakage for Certain Prepaid Stored- Value Cards Effect of Derivative Contract Novations on Existing Hedge Accounting Relationships Contingent Put and Call Options in Debt Instruments
25. 25. #cbizmhmwebinar 25 FASB Exposure Drafts Fair Value Disclosures Adding required disclosures of: the changes in unrealized gains and losses included in other comprehensive income or earnings for the period for all items measured at fair value that are still held at the end of the period, and the weighted average and range of significant unobservable inputs in Level 3 measurements and the period of time considered in the development of the inputs (if applicable) Removing disclosures of: the amount of and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy, and the related policy regarding the timing of such transfers, and the valuation policies and procedures for Level 3 fair value measurements
26. 26. #cbizmhmwebinar 26 FASB Exposure Drafts Fair Value Disclosures Disclosure of the timing of liquidation of an investees assets and the date when restrictions from redemption will lapse for investments measured at NAV Only required if the investee has communicated the timing to the entity or announced the timing publicly
27. 27. #cbizmhmwebinar 27 FASB Exposure Drafts Definition of a business Narrow the definition by requiring a business to have an input and a substantive process Apply a screen so that the definition does not apply to transactions where substantially all of the fair value relates to a single asset or similar group of assets Disclosure of government assistance Require disclosures of assistance received from governmental agencies Would exclude not-for-profit entities
28. 28. #cbizmhmwebinar 28 OTHER STANDARDS-SETTING ACTIVITY
29. 29. #cbizmhmwebinar 29 SEC Rulemaking FAST Act Addresses several areas of securities law Directs the SEC to adopt a rule explicitly permitting a summary in Form 10-K Funds study of how to simplify disclosures Final Rules on Regulation A Tier 1: up to $20 million No continuous review or audited financials Tier 2: up to $50 million Audited financials, semiannual reporting
30. 30. #cbizmhmwebinar 30 SEC Rulemaking Intrastate Proposal Would eliminate restriction that offers must be made to residents of the state Increases qualifying raises up to $5 million Clawback proposal No fault proposal Broad definition of incentive based compensation Limited discretion on clawback at the Board level
31. 31. #cbizmhmwebinar 31 SEC Rulemaking Consideration of S-X and S-K Request for comment on effectiveness of financial disclosures Eliminate redundant, overlapping or outdated disclosures Volume vs. effectiveness Re-evaluate numeric thresholds and prescriptive rules Update the search functionality of Edgar filings
32. 32. #cbizmhmwebinar 32 New AP form filing requirement with the PCAOB Engagement shareholders name Other audit participants Filings due 35 days after the date of the auditors report Effective date (once approved by SEC): Engagement shareholder disclosure: reports issued on/after January 31, 2017 Other audit participants disclosure: reports issued on/after June 30, 2017 32
33. 33. #cbizmhmwebinar 33 33 AU 110 AU 161 AU 210 Etc. AS No. 1 AS No. 3 AS No. 4 Etc. Interim Standards Board-Issued Standards Reorganized Standards (AS Sections) PCAOB Reorganized Standards
34. 34. #cbizmhmwebinar 34 YEAR END REMINDERS
35. 35. #cbizmhmwebinar 35 Discontinued Operations Effective for calendar year end 2015 Discontinued operation requires a strategic shift that has (or will have) a major effect on an entitys operations and financial results Eliminates exceptions for equity method investments and disposals with continuing involvement Increases disclosure Additional reconciliations of assets and liabilities classified as discontinued operations Includes disclosures about disposals of individually significant components that do not meet the definition of discontinued operations 35
36. 36. #cbizmhmwebinar 36 Pushdown Accounting Permits an entity that has been acquired to elect to push down into its separate financial statements the step-up in basis of the acquirer that results from (would have resulted from) the acquisition method of accounting The election applies to each individual change-in-control event, such as Cash transfers or issuance of equity By contract Change in primary beneficiary of a variable interest entity
37. 37. #cbizmhmwebinar 37 Pushdown Accounting Other requirements: Goodwill must be pushed down. Bargain purchase gains are not recognized by the acquiree. Acquisition-related liabilities of the acquirer are recognized by the acquiree if they are an obligation of the acquiree. Effective for calendar year end 2015
38. 38. #cbizmhmwebinar 38 Simplifying Inventory Measurement (ASU 2015-11) Inventory should be measured at the lower of cost or net realizable value Replaces the current lower of cost or market concept Net Realizable Value (Ceiling) Replacement Cost Net Reliable Value less Normal Profit Margin (Floor) Market = If not < If not > Effective beginning after 12/15/16 (Calendar 12/31/17) Early adoption is permitted
39. 39. #cbizmhmwebinar 39 Inventory Measurement Net Realizable Value the estimated selling price in the ordinary course of business, minus the predicted cost of transportation and disposal of the inventory The expected cost to complete is considered for WIP Does not apply to LIFO or Retail inventory methods Transition Prospective
40. 40. #cbizmhmwebinar 40 Consolidation (ASU 2015-02) Modifies variable interest entity (VIE) guidance Eliminates the voting interest model for limited partnerships and similar entities Reporting entities will need to re-evaluate their consolidation decisions for VIEs, potential VIEs, limited partnerships and similar entities. Effective Date: Public Business Entities: Periods beginning after December 15, 2015 Nonpublic Entities: Annual periods beginning after December 15, 2016 Early adoption is permitted
41. 41. #cbizmhmwebinar 41 Consolidation (ASU 2015-02) Significant changes to the VIE guidance: Eliminates the deferral for interests in investment companies Simplifies the evaluation of fees paid to decision makers/service providers as variable interests (VI) Adds a new condition for an entity to qualify as a VIE: Limited partnership, or similar entities, are VIEs if a simple majority of limited partners lack substantive kick-out or participating rights. Changes to determining the primary beneficiary Fees paid to decision maker/service provider that are customary and commensurate are excluded from the economic criteria in determining the primary beneficiary. Related-party rules were modified to reduce their applicability by using proportionate weighting of indirect relationships
42. 42. #cbizmhmwebinar 42 Consolidation (ASU 2015-02) Significant changes to the voting interest model: Eliminates the guidance that a general partner of a limited partnership or similar entity is presumed to consolidate Consolidation for limited partnerships will follow the majority voting rights guidance A limited partner that has unilateral kick-out rights will consolidate the limited partnership entity if no other limited partner has substantive kick-out or participation rights.
43. 43. #cbizmhmwebinar 43 SSARS 21: Preparation of Financial Statements AICPA guidance for accounting and review services recodification Creates a new classification of service Preparation of Financial Statements Lesser than a compilation The accountant does not issue a report Effective for periods ending on or after December 15, 2015
44. 44. #cbizmhmwebinar 44 Attest Services Update (SSARS 21) Review Engagements New report format
45. 45. #cbizmhmwebinar 45 Attest Services Update (SSARS 21) Compilation vs. Preparation of Financial Statements Preparation engagements Non-attest service Engagement letter still required Account includes a disclaimer on each page of the financial statements No assurance is provided on these financial statements Compilation engagements No significant change, remains an attest service Accountant includes a report (new wording) We do not express an opinion, a conclusion, nor provide any form of assurance on these financial statements
46. 46. #cbizmhmwebinar 46 FEDERAL TAX UPDATE
47. 47. #cbizmhmwebinar 47 Committees and House Leadership House of Representatives Speaker is former Ways and Means Chairman Paul Ryan (R Wis.) Chairman Ways and Means: Kevin Brady (R Tex.) Senate Orrin Hatch (R Utah), Chairman of Senate Finance committee
48. 48. #cbizmhmwebinar 48 Protecting Americans from Tax Hikes Act of 2015 (PATHA) Business Provisions Permanently Extended R&D Tax Credit Beginning in 2016 tax years, eligible small businesses (those with average annual gross receipts of $50 million or less) may claim the R&D credit against alternative minimum tax (AMT) liabilities, expanding the benefits first introduced in 2010. This is especially important to individuals who are partners or shareholders in S corporations that qualify as eligible small businesses, as they also benefit from the favorable AMT treatment.
49. 49. #cbizmhmwebinar 49 Protecting Americans from Tax Hikes Act of 2015 (PATHA) Business Provisions Permanently Extended Increased 179 Expensing Election The Section 179 immediate expensing election had plummeted from $500,000 in 2014 to $25,000 in 2015. Businesses with adequate taxable income can immediately deduct in 2015 and all subsequent tax years up to $500,000 of qualified tangible property (including off-the-shelf computer software). The Section 179 deduction begins to phase out when total qualified purchases for the year exceed $2 million. Several enhancements to the Section 179 deduction take effect in 2016: The $250,000 cap on qualified real property (consisting of qualified leasehold improvements, qualified restaurant property and qualified retail improvement property) no longer applies, Air conditioning and heating units will be eligible property, and The $500,000 and $2 million limits both are indexed for inflation.
50. 50. #cbizmhmwebinar 50 Protecting Americans from Tax Hikes Act of 2015 (PATHA) Business Provisions Permanently Extended 15-year Straight Line Cost Recovery Qualifying property traditionally depreciated over 39 years, now permanently can be depreciated over 15 years on a straight-line basis. Qualified leasehold improvements, Qualified restaurant property and Qualified retail improvement Improvements must be made to the interior of non-residential real property more than three years after the building was placed in service. Qualifying restaurant and retail improvements can include improvements to owner-occupied or leased space while qualifying leasehold improvements may only include leased space (related party leases do not qualify).
51. 51. #cbizmhmwebinar 51 Protecting Americans from Tax Hikes Act of 2015 (PATHA) Business Provisions Permanently Extended Other provisions 100 percent exclusion of gain from the sale of qualified small business stock held by non-corporate taxpayers for more than 5 years Also, the gain will no longer be treated as an AMT preference item Reduction of the recognition period for built-in gains of S corporations from 10 to 5 years Basis adjustment to stock of S corporations making charitable contributions of appreciated property Enhanced charitable deduction for contributions of food inventory Subpart F exception for active financing income.
52. 52. #cbizmhmwebinar 52 Protecting Americans from Tax Hikes Act of 2015 (PATHA) Business Provisions Extended Through 2019 Bonus Depreciation Taxpayers can once again elect to take additional first-year (bonus) depreciation on qualifying asset purchases The bonus depreciation percentage, however, decreases in the later years as follows: Year Placed in Service Bonus Depreciation Percentage 2015 50% 2016 50% 2017 50% 2018 40% 2019 30%
53. 53. #cbizmhmwebinar 53 Protecting Americans from Tax Hikes Act of 2015 (PATHA) Business Provisions Extended Through 2019 Bonus Depreciation Qualifying assets generally include new tangible personal property, off-the-shelf computer software and qualified leasehold improvements. Qualified restaurant or retail property do not qualify for bonus depreciation unless the property also meets the definition of qualified leasehold improvements. PATHA also reinstates the corresponding election to accelerate AMT credits in lieu of claiming bonus depreciation, increasing the amount of AMT credits that can be claimed beginning in 2016
54. 54. #cbizmhmwebinar 54 Protecting Americans from Tax Hikes Act of 2015 (PATHA) Business Provisions Extended Through 2019 Work Opportunity Tax Credit (WOTC) Incentive for employers to hire workers in certain targeted groups that have a high rate of unemployment. While it can vary by targeted group and number of hours worked, the credit generally is equal to 40 percent of the eligible employees wages up to $6,000 PATHA also expands the targeted groups by adding qualified individuals who have been unemployed for 27 weeks or more(a $2,400 credit) Other provisions New markets tax credit Look-through treatment for certain payments between related controlled foreign corporations (CFCs).
55. 55. #cbizmhmwebinar 55 Protecting Americans from Tax Hikes Act of 2015 (PATHA) Business Provisions Extended Through 2016 Energy efficient commercial buildings deduction Several other energy incentives Several incentives targeted at specific industries, such as the railroad, mining, horse racing, motorsports entertainment and film and television industries
56. 56. #cbizmhmwebinar 56 Protecting Americans from Tax Hikes Act of 2015 (PATHA) Individual Provisions Provision Extension Up to $100,000 tax-free distribution from IRAs for charitable purposes by taxpayers age 70 or older Permanent Deduction for state and local sales taxes Permanent Enhanced American opportunity tax credit for higher education expenses Permanent $250 above-the-line deduction for teacher classroom expenses Permanent Exclusion for employer provided mass transit and parking benefits Permanent Enhanced refundable child tax credit (not indexed for inflation) Permanent Enhanced earned income tax credit Permanent Charitable deduction for contributions of real property for conservation purposes Permanent Above-the-line deduction for tuition and fees Through 2016 Exclusion of cancellation of indebtedness (COD) income from the discharge of qualified personal residence indebtedness Through 2016 Deduction for qualified mortgage insurance premiums Through 2016
57. 57. #cbizmhmwebinar 57 New Partnership Audit Rules (Effective 2018) 2014 GAO report: IRS audited less than 1 percent of the 2012 income tax returns of large partnerships (i.e., those with greater than $100 million in assets), essentially the same audit rate as individual income tax returns. By contrast, over 27 percent of large C corporations were audited. The disparity in the audit rates is caused by the increased burden on the IRS when auditing partnerships under the current TEFRA rules, where the audit adjustments are assessed against the individual partners of the partnership. The assessment of an adjustment against a C corporation simply is made against one taxpayer the corporation. The new legislation attempts to ease the administrative burden for both the IRS and taxpayers by simplifying the administrative procedures of conducting a partnership examination
58. 58. #cbizmhmwebinar 58 New Partnership Audit Rules (Effective 2018) Applies to all partnerships, except for certain qualifying partnerships that affirmatively elect out of the new rules for that particular tax year. New terms: If the IRS determines that adjustments are required for the partnership tax year (the "reviewed year"), the partnership is required to pay any "imputed underpayment" with respect to the adjustment in the year in which the adjustment is finalized (the "adjustment year"). The imputed underpayment is generally determined at maximum corporate or individual rate
59. 59. #cbizmhmwebinar 59 New Partnership Audit Rules (Effective 2018) An adjustment that results in an overpayment generally is taken into account by the partnership in the adjustment year This may create a disparity because this treatment appears to treat the adjustment as ordinary income, regardless of its original character. Generally speaking, audit adjustments of income, gain, loss, deduction, or credit of the partnership will be applied at the partnership level. Accordingly, the assessment and collection of any taxes, interest, and penalties relating to an adjustment also will be applied at the partnership level. Each partnership that does not elect out of the new regime to designate a partner as the partnership's representative.
60. 60. #cbizmhmwebinar 60 New Partnership Audit Rules (Effective 2018) A partnership can elect out of the new rules for a tax year if: The partnership issues 100 or fewer Schedule K-1s for the tax year For partners that are S corporations, the number of Schedule K-1s issued by the S corporation partner to its shareholders counts toward the "100 or fewer Schedule K-1s" requirement The election must be made by the partnership no later than 45 days after the date of the notice of final partnership adjustment ("NFPA")
61. 61. #cbizmhmwebinar 61 New Partnership Audit Rules (Effective 2018) The IRS required to provide a mechanism whereby partners (instead of the partnership) who were partners in the year to which the changes relate (the reviewed year) can pay their share of the tax deficiencies by amending past returns. Beneficial if the partner's tax liability is less than his share of the partnership's deficiency. Partnership must pay the imputed underpayment amount by the due date of the partnership's tax return (without regard to extensions of time to file) for the adjustment year. No deduction is allowed to the partnership for the payment of such imputed underpayment amount. Current partners bear burden of past years unless partnership elects out, regardless of whether the current partners are the same as the partners in the reviewed year. To help alleviate this disparity, partnership can elect to furnish to each partner in the reviewed year a statement of the partner's share of the adjustment
62. 62. #cbizmhmwebinar 62 De Minimis Safe Harbor Final Tangible Property Regulations allowed qualifying businesses to elect to immediately deduct purchases of tangible property below certain dollar thresholds Taxpayers with an applicable financial statement (AFS), typically an audited f/s: $5000 per invoice or item Taxpayers without AFS: old rules, $500 per invoice or item Now, for these smaller taxpayers, safe harbor amount increased to $2,500 Beginning with the 2016 tax years
63. 63. #cbizmhmwebinar 63 Affordable Care Act Update: Delayed Reporting Obligations IRS requires employers to report annually or face significant penalties (penalties are waived for 2015 if good faith effort to comply is demonstrated) Form 1094-C. Requests identifying information about applicable large employer Aggregated group, number of 1095-C forms, type of coverage Requires a month-by-month tally of whether Minimum Essential Coverage was offered Form 1095-C. Reports information about each employee Determines eligibility for premium tax credits Provided to each employee included in the report Filing Deadlines: IRS has provided relief in delaying the above Forms Forms filed with IRS by 5/31/16 (6/30 if electronically filed) Employees provided a copy of 1095 by 3/31/16 First filings required in 2016 for 2015 calendar year employers
64. 64. #cbizmhmwebinar 64 ? QUESTIONS
65. 65. #cbizmhmwebinar 65 If You Enjoyed This Webinar Upcoming Courses: 1/26, 1/27 & 1/28: Eye on Washington: Quarterly Business Tax Update, Q4 2015 Related Publications: Alabama DOR Adopts Factor Presence Nexus for Sales Tax Invest in Specialty Skills and Other Tips for Internal Audit Planning Ohio Proposed 'Internet Nexus Tennessee Issues Preliminary Regs on Market-Based Sourcing Refund Opportunity: Pennsylvania Court Deems NOL Caps Unconstitutional Iowa Follows Kansas in Adopting Wynne New York Issues Proposed Market-Based Sourcing Regulations Alabama and New Hampshire Add Tax Amnesty Programs
66. 66. #cbizmhmwebinar 66 Connect with Us linkedin.com/company/ mayer-hoffman-mccann-p.c. @mhm_pc youtube.com/ mayerhoffmanmccann slideshare.net/mhmpc linkedin.com/company/ cbiz-mhm-llc @cbizmhm youtube.com/ BizTipsVideos slideshare.net/CBIZInc MHM CBIZ
67. 67. #cbizmhmwebinar 67 THANK YOU CBIZ & Mayer Hoffman McCann P.C. cbizmhmwebinars@cbiz.com