State and Local Tax
The continued rise of online business has put renewed focus by taxing authorities on the issue of state and local taxes. This affects all taxpayers who do business in more than one state. Enterprises need a reliable partner to help them navigate the regulations of the more than 5,000 taxing jurisdictions in the United States.
CohnReznick’s State and Local Tax Practice helps companies determine whether their state and local taxation policies are consistent with good business practices and with applicable state tax laws. From complicated business restructuring to the changing state and local tax landscape, we can provide comprehensive services to help our clients address their state and local tax issues. Our services include:
- Nexus studies: We can verify the jurisdictions in which the company must file tax returns for income, franchise, sales and use, or other types of taxes and then assist with preparation and compliance.
- Net income and franchise tax apportionment issues: We can help resolve issues relative to determining the proper manner in which to source sales, payroll, and property to the various taxing jurisdictions.
- Sales and use taxes: We can examine current practices for compliance and provide taxability matrices of sales and purchase transactions.
- Voluntary disclosure support: When there are past underpayments, voluntary disclosure may be the best option. We help companies evaluate the discrepancy, determine eligibility and guide them through the disclosure process.