DECEMBER 3, 2024
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GRANDOVER RESORT & SPA, GREENSBOROEarly Bird: [In-Person]
Members $350
Non-Members $450
[Virtual]
Members $300
Non-Members $400
8:00–9:05 am
General Session
Andrew Furuseth
North Carolina Department of Revenue
GS1: DOR Updates
This session will provide the latest updates and changes within the North Carolina Department of Revenue (NCDOR).
Topics Covered:
- Recent Legislative Changes: Overview of new tax laws and regulations.
- Technology Enhancements: Updates on new systems and tools implemented for tax processing.
- Compliance Initiatives: New compliance programs and enforcement strategies.
- Customer Service Improvements: Enhancements in taxpayer services and support.
- Future Plans: Upcoming projects and initiatives.
More about Andrew
Andrew Furuseth
North Carolina Department of Revenue
Andrew is the Director of the Sales and Use Tax Division of the North Carolina Department of Revenue. He leads a team that issues technical guidance and reviews protests of audits. Prior to his current role, Andrew served as Assistant General Counsel with the Department of Revenue and Assistant Attorney General in the Revenue Section of the North Carolina Department of Justice. Andrew attended North Carolina State University and The University of North Carolina School of Law.
9:25 am–10:30 AM
Concurrent Sessions
William Young
Department of Revenue
1A: NC PTE Basics
Session objectives include the fundamentals of Pass-Through Entities (PTEs) in North Carolina.
Topics Covered:
- Definition and Types of PTEs: Overview of S-Corporations, Partnerships, and LLCs.
- Tax Treatment: How PTEs are taxed in North Carolina.
- Filing Requirements: Key forms and deadlines for PTEs.
- Recent Changes: Updates on any recent legislative changes affecting PTEs.
- Common Issues and Solutions: Addressing common challenges faced by PTEs.
More about William
William Young
DOR
William Young is the Assistant Director of the Personal Taxes Division and has been with the NC Department of Revenue since 2011. He has served as an Administrative Officer, Agency Legal Specialist, manager of the Bankruptcy Unit, and manager of the Individual Income Tax Section of the Technical Services Group. He has a bachelor of science in financial economics, a bachelor’s degree in music, and a minor in mathematics. He earned his Juris Doctor from Washington and Lee University, where he was the Managing Editor of the Law Review.
Jack Schmoll, CPA
Schmoll CPA
1B: Multi State Tax – Nexus
Navigating the complexities of nexus can be quite the challenge, especially with the evolving landscape of remote work and economic nexus for sales and income taxes. In this session we will delve into how remote workers affect state tax obligations, the intricacies of economic nexus, and the often-ambiguous guidance provided by states. This session would aim to dig more deeply into important and evolving issues as opposed to providing a broad overview.
More about Jack
Jack Schmoll, CPA
Schmoll CPA
Jack Schmoll is an experienced state and local taxation professional with 31 years of experience. He worked for 9 years with the Washington State Department of Revenue and 22 years in public accounting. Jack helps other accounting firms with state and local tax expertise and works on North Carolina and multistate tax issues. He is a frequent presenter for NCACPA and other organizations and provides state and local tax education to CPA firms and businesses.
10:40–11:45 am
Concurrent Sessions
Donna Powell, CPA
Department Of Revenue
2A: NC Individual Income Tax – Deep Dive
Join Donna as she provides a comprehensive overview of individual income tax in North Carolina.
Topics Covered:
- Tax Rates and Brackets: Current tax rates and income brackets.
- Deductions and Credits: Overview of available deductions and tax credits.
- Filing Requirements: Key forms, deadlines, and filing tips.
- Common Mistakes: Common errors and how to avoid them.
- Recent Changes: Updates on any recent legislative changes affecting individual income tax.
More about Donna
Donna Powell, CPA
DOR
Donna Powell, CPA, is the Director of the Personal Taxes Division of the North Carolina Department of Revenue. Her primary duty as Director of the Division is the administration of the individual income tax laws of this State. She also advises taxpayers, accountants, lawyers, and other tax professionals on questions regarding the application and interpretation of North Carolina income tax laws. In addition, Donna represents the Department before the North Carolina General Assembly’s Revenue Laws Study Committee, the House Finance Committee, and the Senate Finance Committee.
Donna began working with the Department of Revenue in July 1988 as an auditor in the Corporate Income Tax Division. She received her B.S. (cum laude) and her MBA from Meredith College. In October 2011, Donna completed the North Carolina Certified Public Manager’s Program.
Matt Gentile
FORVIS
2B: State Pass-Through Entity Taxes: North Carolina and Beyond
This session will:
- Explore the intricacies of pass-through entity taxes, with a spotlight on North Carolina’s taxed pass-through entity legislation, and see how it stacks up against other states’ provisions;
- Delve into the eligibility criteria, the election process, and the calculation of taxable income and tax payments for PTEs; and
- Understand the necessary compliance and reporting requirements and common issues encountered with PTE taxes.
This session will also cover the impact of the November elections and some predictions on what might happen with the federal SALT cap and the impact to the state-level PTE taxes.
More about Matt
Matt Gentile
FORVIS
Matt is a director with DHG’s State & Local Tax group. He has more than 19 years of experience serving a variety of industries including life sciences, pharmaceuticals, manufacturing, apparel and telecommunications.
Matt has experience leading restructuring projects that allow clients to optimize their tax position across state income and franchise tax, sales and use tax and federal excise tax. Additionally, he has co-developed implementation workplans with client stakeholders that detailed implementation steps, responsibilities, timing and documenting the outcome of restructurings with technical memoranda.
11:45–12:45 pm
Lunch
12:45–1:45 pm
Concurrent Sessions
3A: Sales Tax Essentials for NC CPAs
This presentation provides an overview of multi-state sales & use tax principles, while highlighting North Carolina’s state-specific rules. Attendees will learn to identify common issues and uncover opportunities, enhancing their understanding to better navigate multi-state tax rules and mitigate risk.
Chris Leja, CPA
BDO
More about Chris
Chris Leja, CPA
BDO
Chris is a Senior Manager in BDO’s State and Local Tax Practice. Chris has been working in public accounting since 2017 after getting his M.S. in Accounting at Michigan State University.
Chris has worked with clients and managed engagements in countless industries including financial services, manufacturing, healthcare, telecommunications, technology, and many other industries across a multitude of state and local tax issues. Chris has assisted his clients in identifying tax opportunities, navigating the complexities and nuances of state and local tax, and/or mitigating risk across nearly every state. Chris has assisted his clients in countless state and local tax engagements, including but not limited to the following: multi-state tax planning, state tax audit controversy, voluntary disclosure agreements, negotiated incentives, tax credits, litigation support, state income tax sourcing analyses, sales & use tax taxability and exemption certificate reviews.
Barbara Barger, CPA
BDO
More about Barbara
Barb Berger, CPA
BDO
Barb is a Manager in BDO’s State and Local Tax Practice and focuses predominately on Sales and Use Tax Services. Barb has since been employed with BDO after she earned her M.S. in Accountancy at College of Charleston. Barb has worked with clients in various industries including financial services, manufacturing, and technology on a multitude of state and local tax issues including nexus determinations, taxability determinations, reverse audits, outsourced engagements, and voluntary disclosure agreements.
Sabrina Parris, CPA
Honeycomb State Tax Strategies
3B: Multi State Income Tax Basics
This course provides an essential overview of key multistate income tax concepts for tax professionals working with businesses operating across multiple states. It covers critical topics such as IRC conformity, common state modifications to federal income, bonus depreciation adjustments, and Net Operating Loss (NOL) treatment. Participants will also explore the complexities of allocation and apportionment, franchise taxes, and pass-through entity taxes. The course aims to equip attendees with a foundational understanding of multistate tax rules and their implications for compliance and planning.
Course Learning Objectives:
- Understand the impact of state conformity to the Internal Revenue Code (IRC) and identify common modifications that states make to federal income for tax purposes.
- Recognize the differences in bonus depreciation treatment among states and learn how to account for required state-specific adjustments.
- Analyze allocation and apportionment methods to determine multistate tax liabilities accurately, including understanding the distinctions between different apportionment formulas.
- Evaluate state-specific Net Operating Loss (NOL) rules and their impact on businesses operating across multiple jurisdictions.
- Identify key features of franchise taxes and pass-through entity taxes and their implications for multistate compliance and planning.
More about Sabrina
Sabrina Parris, CPA
Honeycomb State Tax Strategies
Sabrina Parris is the owner of Honeycomb State Tax Strategies, a firm dedicated to assisting tax professionals and their clients navigate complex multistate tax issues. With a profound commitment to the accounting field, Sabrina is particularly passionate about enhancing the accounting pipeline and supporting women in maintaining their careers in public accounting. Her expertise and innovative approaches have made her a sought-after voice in the industry, leading to features on innovative podcasts such as Accounting High and Entrepreneur Exchange, and in notable publications such as Bloomberg Tax. Sabrina’s contributions to the field are driven by her dedication to providing solutions and fostering a more inclusive and dynamic accounting profession.
Sabrina is an active member of the American Institute of Certified Public Accountants and the North Carolina Association of Certified Public Accountants.
1:55–2:45 pm
Concurrent Sessions
4A: Property Tax in NC from A-Z
Dive into the intricacies of property taxation in North Carolina with Jim Turner, CPA, CVA, in a comprehensive session designed for professionals and business owners. Jim will navigate through the landscape of property tax, discussing its application, exemptions, and impact on tax bills with illustrative examples. Gain insights into the county’s valuation methods for business personal property, understand the classification of property, and learn valuable tips for audits, appeals, and property listings. The session concludes with a Q&A segment, ensuring participants leave well-equipped to manage their property tax responsibilities effectively.
Jim Turner
Turner Business Appraisors
Chelsie Cornelius, PPS, AAS
Wake County Tax Administration
More about Jim
Jim Turner
Turner Business Appraisors
Jim is the founder and President of Turner Business Appraisers a valuation firm that specializes in: Business Valuation, Equipment Appraisals and Ad Valorem Tax Valuation. He has made frequent regional and international presentations on a variety of valuation topics including: 1. The ABC’s of Business Valuation 2. SBA Business Valuations 3. Tips for Valuing & Selling businesses amidst COVID-19 He has also testified as a valuation expert in District Court, Superior Court, and at the North Carolina Property Tax Commission. Jim is a member of the North Carolina Association of CPA’s, National Association of Valuators & Analysts, American Society of Appraisers, and the NEBB Institute Jim and his wife Sandra have two energetic boys–Isaac and Noah. They enjoy hiking, giving away bags of hope, and playing Uno at home in Metro Charlotte, N.C.
More about Chelsie
Chelsie Cornelius, PPS, AAS
Wake County Tax Administration
Chelsea is a seasoned local government professional with over two decades of experience, currently serving in a management role at the Wake County Tax Administration. As a leading authority on property taxation in North Carolina, she is recognized for her ability to foster cohesive work units and contribute to the success of high-performing organizations. Chelsea’s expertise in collaborative work with individuals from diverse backgrounds has solidified her reputation as a reliable and trustworthy resource, consistently delivering results.
Kathleen Holston, CPA
Webster Rogers
4B: Tax Research for States
This session is designed for tax professionals who seek to deepen their understanding of state tax research. With the ever-evolving landscape of state tax regulations, staying current is critical for minimizing risks and optimizing tax positions. Participants will learn the essential skills and tools required to effectively research and interpret state tax laws, rulings, and administrative guidance. The session will also cover the state tax research resources and sources, including primary and secondary databases, online tools, and state government websites.
More about Kathleen
Kathleen Holston, CPA
Webster Rogers
Kathleen M Holston, CPA, CMI, is a Tax Director located in the Myrtle Beach office of WebsterRogers and the firm’s State & Local Tax (“SALT”) leader. Kathleen has over 30 years of experience in State & Local Taxation.
Prior to joining WebsterRogers, Kathleen spent 9 years with a Big 4 firm, as well as a mix of regional public accounting firms and Fortune 500 companies.
In Kathleen’s role as SALT Leader for the Firm, she is responsible for all aspects of state and local taxation, as well as practice development and quality assurance in the SALT area.
Kathleen has extensive experience in SALT consulting and compliance for all types of businesses in a wide range of industries. Through her high-level tax research, planning and controversy expertise she has been able to identify significant tax savings opportunities and mitigate risks for clients of all types.
2:55–3:45 pm
Concurrent Sessions
Jeana Parker, CPA
KPMG
5A: NC Corporate Tax
Join us for a discussion of some of the general issues related to tax reporting and filing of North Carolina corporate income and franchise tax returns.
Additional topics to include:
- Apportionment issues
- NOL
- Federal nonconformity issues and developments
More about Jeana
Jeana Parker, CPA
KPMG
Since 2007, Jeana’s practice focuses on merger, acquisition, and divestiture activities, state tax planning, state tax controversy services, and state income and franchise tax compliance services. While working primarily on income and franchise tax matters, Jeana’s extensive experience in state and local tax also includes sales and use tax, property tax, and unclaimed property matters.
During the year, Jeana concentrates her time on state income and franchise tax consulting engagements, including teaming with the Mergers & Acquisitions Tax practice performing tax due diligence, structuring, and modeling on both buy-side and sell-side transactions. Additionally, Jeana has extensive experience assisting clients in designing and implementing state tax planning, including business restructuring and legal entity rationalization, as well as assisting clients with various state tax controversy issues. Jeana serves as KPMG’s State Tax Resource Network expert for South Carolina income and franchise tax matters.
In addition, Jeana provides state income and franchise tax return preparation, estimate and extension calculations, amended return compliance, and multi-state return review services to many clients on large scale compliance engagements.
Rafe Martin, CRO, CCRP
ComTech
5B: The FTC Safeguards Rule: Compliance Overview, IT Vendor Selection, and Cyber Liability Insurance
In this session, we will explore the FTC Safeguards Rule, focusing on its application and the required elements your practice must include to ensure compliance. We’ll also provide practical guidance on selecting the right IT vendor or working with your internal team to meet compliance needs. In addition, we’ll discuss the benefits of cyber liability insurance as part of your overall security strategy.
By the end of this session, you’ll have a clear understanding of the FTC Safeguards Rule and its essential elements. Whether you’re working with an external IT provider or managing internal teams, you’ll leave with practical guidance and actionable steps to enhance your organization’s compliance efforts, strengthen its cybersecurity posture, and understand the role of cyber liability insurance in protecting against financial risks.
More about Rafe
Rafe Martin, CRO, CCRP
ComTech
Rafe Martin is the Chief Risk Officer at ComTech. He helps clients manage cyber risks and enhance operational preparedness through effective cyber resilience planning.
With over 30 years of IT experience, Rafe holds a Certificate in Artificial Intelligence from MIT, is Certified in Cybersecurity, and holds the Certified Cyber Resilience Professional (CCRP) certification from DRI International.
As an in-demand speaker and host of ComTech’s RippleFX podcast, Rafe shares insights on emerging technology, including cybersecurity, cyber resilience, and artificial intelligence at conferences, on podcasts, and in webinars.
Whether it’s creating harmony with his bluegrass band or experimenting with the culinary philosophy that anything wrapped in bacon and put on the smoker is bound to be a masterpiece, Rafe enjoys life’s varied flavors. He also cherishes spending time with his wife of 34 years and their family.
4:00–4:50 pm
General Session 2
Robert Broome
NCACPA
Advocacy Review & the Year Ahead
Join us for an engaging closing session as we celebrate our advocacy successes in 2024 and outline the policy landscape for 2025.
- We’ll highlight key achievements and recent developments, including:
- Tax relief for individual and businesses impacted by natural disasters
- Tax software modernization at NCDOR
- Updates on BOI reporting
- Insights into the impact of the 2024 election
We’ll also discuss the importance of collaboration between CPAs, legislators, and the Department of Revenue in developing future tax legislation and regulation. The session will conclude with a Q&A, providing an opportunity for questions, thoughts, and feedback. Be a part of the conversation and help drive positive change in our vibrant tax community!
More about Robert
Robert Broome
NCACPA
As NCACPA Director of Advocacy, Robert works with our members to develop, implement, and communicate the association’s public policy agenda to legislators and regulators. He serves as staff liaison to several NCACPA Resource Groups, including Advocacy, Tax, Government, and Accounting & Attestation.
Robert has more than two decades of experience in government relations and executive management for professional associations. A native of Tennessee, he worked in Nashville and Atlanta before moving to Raleigh in 2013. He earned his Certified Association Executive credential in 2020, and he serves on the Board of Directors for Association Executives of North Carolina.
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