State and local taxes (SALT) matters are quite complicated, with laws changing frequently and rapidly. As states seek to develop new avenues to raise revenue, they are targeting businesses they believe are not reporting or underreporting taxes owed. Actually, state tax examiners now audit returns and assess taxes for prior years – going back as far into the past as they want to. Each time federal tax laws are changed, there is a ripple effect at the state and local level. State legislatures and tax authorities determine how and to what extent they may or may not conform to federal law, thus adding additional complexity to compliance.
All types of businesses can be exposed to multi-state taxation issues, even if they only have a single office. Finding out after the fact is an expensive and unpleasant surprise you want to avoid at all costs. From small businesses that primarily serve clients remotely to large, international businesses wanting to conduct business in the U.S., multi-jurisdictional tax concerns can have a powerful effect on your tax liability as well as your bottom line.
Our increasingly complex, borderless and service-based economy makes it more and more difficult to interpret state and local tax policies written for a brick and mortar economy. Don’t let state and local taxation issues derail your business’ progress toward success and profitability.
By looking at the big picture and researching the details, we help you fulfill your compliance responsibilities while minimizing tax obligations.
Avoid costly mistakes by working with SALT professionals who offer the knowledge and expertise you need. Our dedicated SALT team keeps up with the changing legislation to keep you in full compliance, taking a proactive approach that pursues savings opportunities for each individual business we assist. We dig deep so you don’t have to, putting us in a strong position to review your big picture, research the details and help you fulfill your compliance responsibilities while minimizing tax obligations.
Required to Pay State and Local Taxes to Multiple Jurisdictions?
Businesses in all industries are impacted by state and local taxes. We have helped those from nearly every industry; ensuring they are compliant in every jurisdiction where they have nexus. However, we have specialties helping those in the following industries: financial institutions, construction, government contracting, healthcare and hospitality.