Athletes and Entertainers: Multistate Tax Issues

Author: Timothy Noonan

Given their high-profile status, professional athletes and entertainers are easy targets for state tax officials seeking to collect income taxes on earnings in their states. But because the rules covering multistate taxation are so confusing and often contradicting, many athletes and entertainers find themselves out of compliance in one or more states.

This course will help you assist high-profile clients by providing a practical review of the multistate personal income tax issues and traps that have to be carefully managed. Presenter Timothy P. Noonan, Esq., brings significant experience dealing with multistate tax issues for high-profile clients. He will show you how to safely navigate the dangerous waters of multistate taxation with confidence for your athlete and entertainer clients.

Publication Date: November 2020

Designed For
CPAs, EAs, tax attorneys and other business and financial advisors working with athlete and entertainer clients will benefit from this insightful seminar.

Topics Covered

• Understanding the Tax Burden after 2018 Tax Reform
• The All”Important Concept of Residency
• Nonresident Income Allocation Issues
• Tax Credits, Withholding, and Other Stuff

Learning Objectives

• Recognize the multistate personal income tax treatment, trends and issues related to athletes and entertainers
• Identify steps to take and opportunities to pursue to reduce state tax problems for athletes and entertainers
• Identify the big three as it relates to a professional athlete/entertainer's tax burden
• Differentiate the central issues related to income taxes
• Recognize state requirements and how they apply to residency
• Describe which allocation methods has largely been abandoned
• Identify the number of states that have a "convenience rule"

Level
Intermediate

Instructional Method
Self-Study

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites
Basic understanding of state income tax topics.

Advance Preparation
None