Whether you operate a business in one state or locations throughout the lower 48, you have to be aware of the unique tax requirements within each state and municipality. Decosimo has the depth of experience with state and local tax laws you need with proper state registrations, nexus studies, sales and use taxes, dispute resolution and much more. We represent your interests before state revenue auditors and appeal boards. We help make sure that state and local filings are prepared correctly and on time.
Our knowledge of state and local filing requirements can result in significant tax savings for you. Our state and local tax (SALT) professionals assist in the following areas:
- Advantageous structure—Each state has laws that determine the correct structure of a given enterprise to achieve the lowest tax rate. To maximize savings, business should consider separation/combination of separate business lines, the type of entities to be used, as well as the overall number of separate reporting entities.
- Sales and use tax—The complexities of sales and use tax create twin hazards: underpaying (thus incurring severe penalties) and overpaying (paying out money needlessly).
- Personal and tangible property tax—Each state has different rules for calculating these taxes; knowing the differences can result in tax savings.
- Site selection—Before the decision is made to locate in a state or municipality, we perform due diligence to understand all of the state and local tax implications.
- Business incentives—Never before has the federal, state, and local governments worked so hard to bring companies into various regions. Before any expansion plans are made, any possible financial assistance offered, in the form of tax and non-tax incentives, must be understood.
- Apportionment review–Each state has its own way of determining/"apportioning" income. The myriad of state apportionment rules change on a year-to-year basis. We can make sure businesses report state income in the most tax-efficient manner and make sure your company is in compliance with all state filing requirements. We frequently find prior year refund opportunities in conjunction with our apportionment reviews.
- Tax Audit Representation—Our staff comprises former IRS auditors and management personnel that understand tax audits from both sides of the table and can effectively manage your tax audit so that you can focus on your business. We act as your liasion, audit defense team and remain involved until the case is concluded, minimizing costs through efficiency standards and paying attention to detail. Whether you have been notified of a pending audit or in the middle of one, we can assist with the whole process or answer questions at any level of complexity.