Seminar recording | Presentation material | Proactive Planning After ATRA and NIIT Toolkit
The new 3.8% net investment income tax (NIIT) under section 1411 will affect many partners and S Corporation shareholders.
During this webcast, the speakers will provide suggestions to practitioners with S corporation clients on how to implement the new tax as it applies in its first year. The speakers will provide a background of the NIIT and its application to S corporations and S corporation shareholders, including definitions of key terms, passive versus active income, and state income tax considerations. Examples will be provided.
The following issues will be covered:
- Which S corporation shareholders are subject to the tax
- How the new tax is calculated
- What types of income are subject to the tax
- What amounts are deductible for purposes of computing net investment income
- Effect of the new tax on a taxpayer’s grouping elections under section 469
- Effect of the new tax on dispositions of interests in S corporations