Our S.A.L.T. team of professionals knows that state and local taxes can impact a business’ bottom line, and that proper tax planning can reduce liability from nexus. States in need of new revenue streams are enforcing regulations, so we work hard to keep our clients compliant, because penalties and fines can be steep!
It can be overwhelming for business owners and management teams doing business in several areas to keep up with state statutes and local tax laws in addition to federal compliance. Trade regulations and tax rules are constantly changing, and the state to state laws are inconsistent. Especially if you are looking to expand or franchise your business, be sure you are aware of the nexus and tax exposure created by dong business in other locales. New remote seller tax laws are expected which will impact web businesses and online sales after the Supreme Court’s decision in the 2018 Wayfair case.
E-commerce, retail, services, manufacturing, and software businesses looking for maximum profitability in today’s regulatory environment must plan for costs that include tax liability. Our experienced tax professionals can help multi- state clients minimize state and local tax liability in the following areas:
- Income and Franchise Tax
- Property Tax
- Sales and Use Tax
- Tax Credits and Incentives
Our portfolio of S.A.L.TÂ services and consulting engagements for entrepreneurs, C or S corporations, partnerships or franchises include:
- Examination of state and local tax liabilities and refund opportunities.
- Review of state tax implications of proposed mergers and acquisitions.
- Assistance with state and local tax audits.
- FIN 48 financial disclosure of state and local income taxes.
- Preparation of multi-state nexus studies
- Reverse sales tax audits
- Negotiation of voluntary disclosure agreements
- Development of sales and use tax manuals
- Assistance with unclaimed property voluntary disclosure agreements
S.A.L.T. should be part of your entity’s overall tax strategy and annual tax planning consultation whether you do business in one state or fifty!