State and Local Tax (SALT)
State and Local Tax (or multistate taxation) is more complex and demanding than ever before, and state and local policymakers are increasing enforcement. As businesses grow and expand into new geographic markets, they may become subject to a complex array of state and local laws that can pose serious problems for their finances and for their businesses.
AAFCPAs State and Local Tax (SALT) specialists align your financial goals with tax efficient planning. Our advisors analyze each client’s unique financial situation, and provide the perspective and support you need to properly manage your multi-state tax burden.
Identify if you have multi-state tax exposure:
- Where are you shipping goods?
- Where are you performing services?
- Where are your employees located?
- What has changed in your operations?
- Do you own property in another jurisdiction?
AAF supports clients by providing valuable solutions related to:
- Nexus analysis for income/franchise tax and sales & use taxes
- State and local tax audit representation
- Voluntary disclosure and amnesty program participation
- Formal and informal ruling requests
- Delinquent filing issues
- Installment payment agreements
- State apportionment
- 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 internal accounting processes used to capture data required for multi-state and local tax compliance and planning
- Sales tax compliance analysis
- Review of prior year state and local tax returns for potential refunds
- Multi-state and local tax compliance: corporations, partnerships, individuals, and trusts
- Avoiding taxation of the same income in multiple states
- Planning opportunities related to the Tax Cuts & Jobs Act (H.R. 1)
There is a lot at stake when it comes to state and local tax. There are several opportunities in multistate taxation to save money through advanced tax planning and risk mitigation. It is critical that businesses have an AAFCPAs SALT advisor to provide perspective and support to manage multi-state tax burdens. AAF ensures our clients do not pay a penny more in tax than they have to, and that they are in compliance with all tax laws.
- IRS Issues Proposed Regulations on Charitable Contributions and State and Local Tax Credits
- AAFCPAs Advises Clients on Year End Tax Savings Strategies in Response to Tax Bill Conference Report
- AAFCPAs Highlights Provisions in Proposed Tax Legislation and Planning Opportunities for Businesses & Individuals