Kilpatrick’s Jordan Goodman recently co-presented the session “Fundamentals of Formulary Apportionment” at the Institute for Professionals in Taxation’s “2025 State Income Tax School” in Atlanta. Jordan addressed the basic...more
Kilpatrick’s Jordan Goodman recently co-presented the session “Income Subject to Allocation” at the Institute for Professionals in Taxation’s “2025 State Income Tax School” in Atlanta. Jordan addressed the distinction between...more
Kilpatrick’s Jordan Goodman recently co-presented the session “Unitary Business Principle” at the Institute for Professionals in Taxation’s “2025 State Income Tax School” in Atlanta. Jordan addressed the theoretical...more
Kilpatrick’s David Hughes and Jordan Goodman recently presented a “2025 SALT Summer Update” in association with AGN International - a worldwide association of separate and independent accounting and advisory businesses who...more
Kilpatrick’s Jordan Goodman recently participated in a panel titled – “Is There any Limit to What Constitutes Tangible Personal Property?" - at the Council on State Taxation (COST) Spring Meeting in New Orleans. The thought...more
Kilpatrick’s Jordan Goodman recently joined other thought leaders at the ABA-IPT Advanced State Income, Advanced Sales/Use, and Advanced Property Tax Seminar in New Orleans where he co-presented on the latest twists in sales...more
Kilpatrick’s Jordan Goodman was recently a part of a distinguished panel at the 55th Annual Council on State Taxation (COST) Annual Meeting in St. Louis. This session analyzed the most impactful recent changes in state...more
Kilpatrick partner Jordan Goodman recently participated in a presentation on state tax litigation at the 31st Annual Paul J. Hartman State and Local Tax Forum in Nashville, Tennessee....more
Kilpatrick’s Jordan Goodman was recently a part of a distinguished panel at the 55th Annual Council on State Taxation (COST) Annual Meeting in St. Louis. This session analyzed the most impactful recent changes in state...more
Introduction – What Is Tax Penalty Abatement?
Audits can be an incredibly frustrating ordeal. From initial contact with tax authorities to digging up old financial records to possibly increasing tax liability, there are...more
The Illinois Franchise Tax (the “Franchise Tax”) is an extremely complex tax that places unique burdens on corporations conducting business in Illinois. Based on our experience, many corporations incorrectly calculate their...more
Understanding the Franchise Tax requires an understanding of four critical terms used throughout its computing and filing process. These terms are: Paid-In Capital, Taxable Year, Fiscal Year, and Allocation Factor. While some...more
The importance of calculating your Franchise Tax Allocation Factor cannot be understated. Improper calculation of this factor can lead to over and underpayment of Franchise Tax, triggering penalties, interest accrual, and the...more
This series of articles is intended to provide a deep dive into the Illinois State Franchise Tax (the “Franchise Tax”) and should be read sequentially to be best understood. The first article covered the businesses and...more