There are over 80,000 state and local taxing jurisdictions nationwide. Each jurisdication has its own set of rules and regulations which are constantly changing and expanding. States have become more aggressive and tax laws are more complex, increasing risk and the cost of compliance. Many businesses are not aware of the tax exposure created by their presence in other states - this exposure can lead to additional penalties and interest if not handled properly.
Why be concerned now?
› A number of factors contribute to an increase in concern for today’s taxpayer. These include:
› Cash straped state goverments
› High-tech information sharing within and between state agencies and with federal government
› Increased compliance efforts
› Stricter penalties
› New laws
How can Bollus Lynch help?
Bollus Lynch’s dedicated team of skilled State & Local Tax (SALT) professionals combine real-world experience and technical know-how to help clients indentify, plan, implement and manage innovative programs to help minimize state & local taxes liability.
Our services reange from full-service Income and Franchise Taxes, Sales and Use Taxes, and Property Tax Reviews, to more selective engagements designed to resolve specific client problems or concerns. Our areas of expertise are:
› Comprehensive review of state and local tax liabilites and indentification of potential tax minimization and refund opportunities
› Review of state tax implications of proposed mergers and acquisitions
› FIN 48 assistance
› Assistance with state and local tax audits
› Preparations of multistate nexus studies
› Reverse sales tax audits
› Negotiation of Voluntary Disclosure Agreements
› Compliance outsourcing
› Sales and use tax consilting and compliance
› Assistance with unclaimed property compliance
› Property and indirect taxes
MAYBE IT'S TIME FOR A CHECK UP
[ ] Have company representatives in other states?
[ ] Have inventory in another state?
[ ] Deliver products or services to states where you do not file tax returns?
[ ] Have a customer or vendor that has been audited recently?
[ ] Have to complete state tax ‘NEXUS’ questionair?
DO YOU USE OR PROVIDE ‘CLOUD COMPUTING SERVICES’ SUCH AS:
1. Infrastructure-as-a Sevice (IaaS): providing virtual servers with unique IP on demand.
2. Platform-as-a Service (PaaS): a set of software and product development tools are hosted on the provider‘s infrastructure.
3. Software-as-a Service (SaaS): vendors supply hardware infrastructure, software & a front end portal by which the user interacts with the provider.
If you answered ‘YES’ to any of these statements - or if you have any concerns about your SALT liability - it‘s time to schedule a SALT consultation with the State & Local Tax expert Inez Mello (508.755.7107 / firstname.lastname@example.org) from Bollus Lynch.