Course Information

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Franchise Taxation of Equipment Leasing
Author: John Amato, J.D. and Donna M. Fiammetta, CPA

Description:

This course discuses the franchise tax that is generally imposed on corporations for the privilege of doing business in a state. The tax may be called a net worth tax, capital stock tax, or license tax by the states. However, the tax base is generally measured by the net worth of the corporation, as determined under generally accepted accounting principles (GAAP). The nexus issues for the franchise tax are similar to those for an income tax, except that a corporation is not protected from franchise taxation by the provisions of federal Public Law 86-272. Topics covered include:

  • Nexus for Franchise Tax
  • Computation of the Tax Base
  • Valuation of Assets
  • Restrictions on Allowable Liabilities
  • Judicial Interpretations

Course Details:
Price:  $24.00
Field of Study:  Taxes
Prerequisites:  None
Level:  Update
Advanced Preparation:  None
CTEC course number:  1075-CE-7118
Course was last updated on:  05/12/06
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Library:
Learning Center Core
State Taxation

Technical Requirements:
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Credit Available For: Units
CPE 1.0 CPE
QAS 1.0 CPE
CFP® (Accepted by the CFP Board) 1.0 CPE
Enrolled Agent (Accepted by the IRS) 1.0 CPE
CTEC California 1.0 CE

Note: Recommended CPE credit is based on a 50-minute hour. Participants earning credits for states that require self-study to be based on a 100-minute hour will receive half the recommended CPE credits for successful completion of this course.

Since Continuing Professional Education requirements vary from state to state and are subject to change without notice, please contact your state board of accountancy for information on your CPE requirements and the applicability of this course to meet those specifications.

CCH has been approved by the California Tax Education Council to offer courses that provide federal and state credit towards the annual "continuing education" requirement imposed by the State of California. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, toll-free by phone at (877) 850-2832, or on the Internet at www.ctec.org.

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