State and local taxes
There are thousands of taxing jurisdictions in the United States and state and municipal tax agencies are becoming increasingly aggressive in identifying out-of-state companies doing business in their jurisdictions.
Is your business expanding its presence into new states or considering doing so? Have you considered the tax implications? Interstate commerce is evolving towards economic presence, so even though you do not have employees or property in a state, you may be liable for state taxes under the nexus rules.
You need to know your reporting and compliance obligations. Failure to do so can lead to flawed business decisions with serious
Our multistate tax group has many years of state and local tax compliance and planning experience and can help you understand and take full advantage of things like available offsets; the collection of sales taxes from out-of-state customers where required; and foreign jurisdiction assessments.
In this context, we have helped our clients in the following areas:
- Determining jurisdictions in which you have filing and other compliance requirements
- Income and franchise tax apportionment planning
- Sales and use tax studies – filing, payment and collection
- Identifying tax credits that benefit your business
- Advice and planning for state tax consequences of specific transactions
- Working with tax authorities to minimize and settle past liabilities
Who we serve
Our team has serviced a wide array of business sectors and industries, including, but not limited to:
- Consumer wholesale distribution
- Health care services
- Internet sales and service providers
- Financial services
- Professional Services
- Manufacturing companies
- Payment processing companies
- Construction material providers
- Real estate
- Various others
What we’ve done
We have many examples of successful engagements, including:
- Converted R&D expenses into significant cash refunds by selling credits back to the State of Connecticut.
- Sales and use tax nexus studies to assist clients in meeting filing obligations.
- Research and planning for state income tax nexus to qualify to file in additional states, reducing overall state tax burden.
- Filing under amnesty and voluntary disclosure procedures to help clients become compliant with state filing obligations.
- Tax credit and state incentive analysis to optimize cash flow planning.
For more information, please contact us at (203) 929-3535, or by clicking here.