State and local taxation (SALT) have a major impact on business entities and their owners across a wide spectrum of professional fields and industries. As state and local needs for new revenue sources have grown nationwide, government entities have become increasingly aggressive in pursuing new taxation opportunities wherever possible. For companies and organizations operating in multiple states and municipalities, effectively managing and planning for every tax obligation can be a complicated and costly process.
There are numerous opportunities in the SALT world to save tax dollars through advance tax planning and risk mitigation. Many incentives and credits exist at the state and local level that are not available at the federal level, but businesses need to know how to find and identify these location-specific incentives and opportunities in order to take advantage of them. Therefore, it’s more important than ever for businesses and non-profit organizations to partner with a knowledgeable tax consulting firm, capable of effectively minimizing their organization’s tax obligations across multiple state and municipal borders.
The Tax Warriors® at Drucker & Scaccetti offer a powerful arsenal of Multi-State Tax Compliance & Consutling Services that includes:
- Nexus analysis for income/franchise tax and sales & use taxes
- Sophisticated state and local tax audit representation
- Analysis of state and local tax aspects related to the purchase and sale of businesses
- Review of potential tax exposure in support of financial statement reporting under FIN 48
- Review of prior year state and local tax returns for potential refunds
- Outsourcing of state and local tax compliance for businesses and family offices
- Partnership, individual, trust and corporation multi-state and local tax compliance
- Voluntary disclosure and amnesty program participation
- Formal and informal ruling requests
- Review of payroll and pass-through entity withholding requirements
- Review of internal accounting processes used to capture data required for multi-state and local tax compliance and planning
- Sales tax compliance studies
If you have any multi-state tax concerns, issues or questions not covered above, contact The Tax Warriors® and we will be happy to discuss your specific situation in detail to provide the customized solutions you require.
