When your business crosses borders
Operating nationally requires an understanding of the various rules for each and every taxing jurisdiction. The states impose a variety of income and franchise taxes, from traditional income-based systems to hybrid/gross receipts regimes. Additionally, most states impose sales and use tax, but the laws vary radically from jurisdiction to jurisdiction. The states also offer various credits and incentives to in-state businesses, but you have to know where to look.
It can be complex, overwhelming and frustrating to simply calculate your tax burden; all the more so to make strategic business decisions to position yourself favorably for tax. And the risk of making a mistake has never been higher. As state and local revenues shrink, the taxing jurisdictions have become more aggressive in their collection efforts.
CSH State and Local Tax (SALT) professionals will work to ensure that you comply with your filing obligations for each jurisdiction in a smart and cost-effective manner. And we’ll identify planning opportunities that strategically position you for tax. Here are the various ways we serve you.
Nexus Determination and filing reviews
Where are you filing? More importantly, where should you be filing or are you paying too much tax in certain jurisdictions? We can comprehensively review nexus using the latest standards; we can also review returns to ensure optimum filing methodologies. If you should be filing somewhere but are not, we can help you with a voluntary disclosure that could significantly reduce tax liabilities and related penalties and interest.
Revenue Agent Report
How will you handle state reporting responsibilities following a federal audit? We can help comply with state reporting requirements following an RAR adjustment.
State Tax Planning
State tax rules vary widely; business transactions and structures can significantly impact the state tax footprint and resultant tax liability. We can help you consider the efficiency of a proposed business structure and the tax impact of significant business transactions through tax modeling techniques.
Sales tax refund analysis
Are you paying too much? Many companies do without even realizing it. We can help analyze purchase and accrual history to identify overpayments and refund opportunities.
Transactional tax planning
Did you know many business transactions present potential significant sales and use tax issues? We can help identify and proactively plan for sales and use tax impacts of such transactions.
Nexus and voluntary disclosures
Standards for sales and use tax nexus differ from other types of taxes. Let us help identify where filing obligations exist. We can also help mitigate liability through state voluntary disclosure (VDA) programs.
State Tax Controversy
All states have become extremely aggressive as state revenues fall. As a result, audit activity has increased across the board for all types of state taxes. CSH SALT professionals will guide you through the examination process and explore opportunities for settlements and offsets in the form of refund requests where tax was overpaid. We actively work with the State and Local jurisdictions where relationships can help us effectively manage the audit process and reduce the burden on your company.
Credits and Incentives
We will help you examine grants and incentives for new or expanded business and for training existing business employees. Our services can help your company unlock and maximize tax credits, exemptions, and abatements. We can also help negotiate certain economic benefits with state and local authorities. We work closely with state and local economic development professionals to ensure we capture the maximum benefit available for your business.
State & Local Tax Guidance
Look to CSH for valuable insights designed to help you and your organization thrive.
A look at the Michigan Supreme Court ruling in IBM v. Department of Treasury July 18, 2014
The tax breaks that could impact you in Kasich’s MBR bill July 10, 2014
Protect your manufacturing firm’s bottom line April 7, 2014
The Ohio Small Business Deduction: February 18, 2014
Not an Ohio resident? Actually, you could be January 23, 2014
S CORP Owners: Do profits (and debts) belong to you, or your company? January 22, 2014