State and Local Tax

Overview

In addition to federal tax requirements, individuals and businesses must evaluate their state and local tax responsibilities.

Each state has different rules and regulations, and the landscape is always evolving. Just in the last few years, we have seen major changes. For example, in the South Dakota v. Wayfair, Inc. decision we saw the Supreme Court affirm the economic nexus standard created by South Dakota.

Furthermore, with the institution of the SALT cap of $10,000 on itemized deductions, we have seen many states create a pass-through entity tax creating an opportunity for a workaround to the limitation.

Ensuring that you are following state and local tax laws is complex. It is also important to remain in compliance to avoid exposure.

Our team of professionals are here to help you with your SALT needs.

Services offered:

Business Income Tax
- Determining registration requirements
- Evaluating nexus to determine where returns need to be filed
- Measuring where your income is sourced utilizing allocation and apportionment
- Considering exemptions offered by Public Law 86-272
- Calculating state tax differences based on non-conformity with the Internal Revenue Code
- Corresponding with taxing authorities

Individual Income Tax
- Determining residency
- Evaluating composite tax filings to reduce individual filing burdens
- Corresponding with state authorities
- Calculating state tax differences based on non-conformity with the Internal Revenue Code

Sales Tax
- Determining registration requirements
- Evaluating nexus to determine where sales tax needs to be collected
- Consulting on taxability of products and services
- Consulting on various exemptions available