Let’s Talk About Tax – An Annual Sampler

Date: Wednesday, May 25, 2022

Location:
Olympic Hills Golf Club
10625 Mt Curve Road
Eden Prairie, MN, 55347

Time: 12-5 p.m. CT

Hosted By: Fredrikson & Byron’s Tax Disputes & Litigation Group

Cost: Free

Program Description and Topics:

Join Fredrikson & Byron’s Tax Disputes & Litigation Group for our Inaugural Let’s Talk About Tax – An Annual Sampler event on Wednesday, May 25, 2022. The afternoon will feature a networking lunch followed by continuing education sessions and a happy hour.

Register

Slicing the Income Pie – Let’s Talk About Sales Factor Sourcing

Speaker(s):  Masha Yevzelman

Session Description: This session will focus on income tax apportionment.  Specifically, we will talk about how to source sales for purposes of the sales factor.  We will also discuss local and national trends in sourcing sales of tangible personal property, services, intangibles, and other revenue streams.  This sessions element of engagement will include polling questions for participants.

Learning Objectives:  After attending the session, the attendee will be able to:

  • Understand how to source sales for purposes of the sales factor;
  • Discuss national and local trends relating to sourcing; and
  • Determine approaches towards tackling complex sales sourcing scenarios.

Let’s Get Real…No, Let’s Get Personal: The Crossover Between Sales Tax and Property Tax

Speaker(s):  Lynn Linné

Session Description: This session will dive into the complexities of determining whether property is characterized as real property or personal property, whether property can have different characterizations for purposes of property tax and sales and use tax, and how a property’s characterization as real or personal property impacts which taxes are applicable.  In addition, this session will discuss how specific transactions (i.e., real estate transactions, tax pass-throughs, occasional sales) can impact the characterization of property. This sessions element of engagement will include polling questions for participants.

Learning Objectives:  After attending the session, the attendee will be able to:

  • Identify whether property is real or personal property;
  • Recognize in what circumstances real and personal property is subject to ad valorem property tax; and
  • Recognize in what circumstances real and personal property is subject to sales and use tax.

Captives and Nonadmitted Insurance – What’s Going On?

Speaker(s):  Ken Levinson and Will Howieson

Session Description: Many companies – Fortune 500 mega-multinationals, family-owned businesses, Private Equity firms, etc. – have captive insurance companies.  These specialized, privately-owned insurance entities are an important tool for managing business risks and integrating this risk management strategy into conventional commercial insurance coverages.  Several states, including Minnesota, have begun targeting these captive arrangements for purposes of revenue generation by imposing taxes and adjusting prior statutes.  This session will discuss these issues and queue attendees to what to lookout for regarding future developments. This sessions element of engagement will include polling questions for participants.

Learning Objectives:  After attending the session, the attendee will be able to:

  • Understand how captive insurance arrangements work;
  • Determine what a nonadmitted premium tax is and how it applies to these particular arrangements; and
  • Discuss what is being done to help MN taxpayers who may have nonadmitted premium tax liabilities.

Let’s Talk About Worker Classification: A Tax Concept Every Employer Should Care About

Speaker(s):  Allison Woodbury and Jenny Pusch

Session Description: This session will focus on an area of tax that impacts every employer: worker classification.  We will identify factors that distinguish an employee from an independent contractor, including various components of the “common law test” and recent U.S. Tax Court cases.  We will also discuss the ripple-effect that misclassification can have on a business, best practices for classification audits, and tips for avoiding costly reclassification.  This sessions element of engagement will include polling questions for participants.

Learning Objectives:  After attending the session, the attendee will be able to:

  • Learn about the different factors for determining classification;
  • Understand the risks of misclassification; and
  • Determine best practices and tips for handling the issue on audit.

Signed, Sealed, Delivered (and the Tax Liability’s Yours) – Sales Tax Concerns with Direct Mail Advertising

Speaker(s):  Kyle Brehm

Session Description:  From sourcing, identifying the true object, or determining appropriate exemptions, direct mail advertising is an issue resulting in both significant overpayments and potential liabilities.  During this session we will discuss several of the critical issues that arise and will help attendees get started on the path towards resolving these issues. This sessions element of engagement will include polling questions for participants.

Learning Objectives:  After attending the session, the attendee will be able to:

  • Identify critical issues related to direct mail purchases or sales made by your organization;
  • Begin resolving the historical issues identified to arrive at an accurate amount of tax paid; and
  • Identify prospective approaches towards accurately paying sales/use tax on spend related to direct mail advertising.

Continuing Education:

We have applied for Continuing Legal Education (CLE) and Continuing Professional Education (CPE) credit for this program in Minnesota, pending approval.

Advance preparation: None | Program level: Intermediate | Prerequisites: None | Delivery method: Group live| Field of study: Taxes | CPE: 2.5

For more information regarding administrative policies such as complaints or questions, please contact our offices at events@fredlaw.com.

Fredrikson & Byron, P.A. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its web site: www.nasbaregistry.org.

Register

Questions:         events@fredlaw.com