Course Information

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Multistate Corporate Income Taxation: Treatment of Nonbusiness Income
Author: Michael S. Schadewald, PhD, CPA

Description:
This course discusses how states differentiate between business and nonbusiness income, and how nonbusiness income is allocated. It also explains the unitary business principle and reviews U.S. Supreme Court and state court cases that have affected the definitions of business and nonbusiness income.

Specifically, it covers constitutional and state statutory restrictions on inclusions in apportionable income, the two-part test for determining whether income is business or nonbusiness, nonbusiness income allocation rules, and more.

Upon completing this course, the professional will be able to:

  • Explain the unitary business principle
  • Explain operational function test
  • State UDITPA’s definitions of business and nonbusiness income
  • Differentiate between the transactional and functional tests for determining whether an item of income is business or nonbusiness income
  • Demonstrate how nonbusiness income is allocated
  • Describe the treatment of expenses attributable to nonbusiness income

Course Details:
Price:  $34.00
Field of Study:  Taxes
Prerequisites:  None
Level:  Overview
Advanced Preparation:  None
CTEC course number:  1075-CE-9736
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Library:
Learning Center Core

Technical Requirements:
To view and print downloadable content files available in this program, you will need Adobe Acrobat Reader. You can download the free Reader plugin at Adobe's website by clicking on the icon below, then following the instructions for installation on your computer.
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Credit Available For: Units
CPE 2.0 CPE
QAS 2.0 CPE
Enrolled Agent (Accepted by the IRS) 2.0 CPE
CTEC California 2.0 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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