May 18, 2022 12:00pm – 1:50pm Map & Directions 602-252-4144

Webcast: Arizona Small Business Income Tax and Passthrough Entity Tax: Update and Overview

Online registrations are currently closed, please call (602) 324-6847 for additional registration options

Description

Recently the Arizona courts have issued decisions that have indirectly impacted both the Arizona Small Business Income (SBI) Tax and upcoming Passthrough Entity Tax (PTET). 

In this session we'll look at how these taxes work, the impact of the court decisions and Department of Revenue guidance on the SBI following those decisions. In particular we'll look at the guidance ADOR only issued on the SBI once Proposition 208 was officially ruled in violation of the Arizona constitution and how the lower rate that will take effect now that we know SB 1828's rates will apply for 2022 taxes effectively renders the SBI tax moot for future years (most likely) and the issues this creates with the PTET given the PTET is stuck at a much higher rate.

Location

ASCPA Live Online Webcast
Phoenix, AZ 85034-6617

Registration Time

11:30am

Fees

Member:
$75
Non-CPA Staff:
$101
Non-CPA Staff (100% club):
$75
Non-CPA Staff (sole proprietor):
$75
Non-Member:
$101
Webcast
Taxation
2

Objectives

 

Course Level

Advanced

Vendor

Thomas, Zollars & Lynch, Ltd. More With This Vendor

Designed For

 

Prerequisites

None.

Event Leaders

Zollars, Edward K.

Rating: 4.87


Edward K. Zollars, CPA, is in public practice in Phoenix, Arizona as a partner with the firm of Thomas, Zollars & Lynch, Ltd. He has been in practice for more than 35 years, specializing in tax issues for closely held businesses and individuals.

Zollars has been professionally involved with both tax and technology issues, combining the two disciplines in producing the Current Federal Tax Development Update Podcast and website, dealing with current tax issues. He has been a member of AICPA Tax Division Committees focusing on tax and technology issues and was the Tax Section’s representative on three occasions to the AICPA’s Top Ten Technologies project. He is also a member of the Phoenix Tax Workshop’s Advisory Committee and currently serves on the Tax Legislation Liaison Committee for the Arizona Society of CPAs. Zollars was selected as a Life Member by the Arizona Society of CPAs in May, 2010.

Along with writing, editing and presenting courses for Loscalzo Institute, Zollars has written articles published in Practical Tax Strategies and the Tax Adviser. He has been a frequent contributor to a number of professional tax discussion groups, and served as systems operator on the AICPA’s Accountants Forum in the mid-1990s.

He has spoken regularly on tax and technology topics since 1996, speaking before conferences sponsored by the AICPA and a number of state societies of CPAs.


More With Zollars, Edward K.

Highlights

  • How the Small Business Income Tax works.
  • Arizona Department of Revenue recent SBI guidance - somewhat, but not completely, integrating the SBI with the regular income tax for 2021.
  • Arizona's variant of an elective pass-through entity tax that takes effect for 2022.
  • Department of Revenue's delay in estimated tax payment dates and implicit promise of future guidance.
  • The problem of the 4.5% rate with the SB1828 Arizona tax rates - a nonrefundable credit with a 5-year carryover.

 

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