- We analyze our clients' business operations in order to determine the company's tax filing obligations across tax types.
Income & Franchise Tax:
- We help our clients actively manage state and local income & franchise tax burdens by identifying creative and practical strategies to help reduce complexity and generate savings. These opportunities include apportionment and sourcing analyses, preferential tax rates, and differences between federal income tax and state and local tax laws.
Sales and Use Tax:
- We help businesses reduce the risk of noncompliance, improve efficiency, and identify tax planning opportunities. We can also help identify a host of different savings opportunities through applicable exemptions and sourcing methodologies. Our taxability reports and analyses allows us to clearly demonstrate which products should be taxable by state.
- We review and provide guidance on how clients can efficiently file state and local tax returns to potentially help clients save money in compliance fees and ultimate taxes.
Audit Representation and Controversy:
- We have extensive experience in working with state tax auditors to help minimize any potential state tax assessments and maximize potential refunds. We also regularly advocate on behalf of our clients before administrative tribunals/boards. Our services start when a client receives an initial notice through administrative review levels.
- We evaluate, recommend, and assist in implementing tax planning strategies to ensure our clients legally pay the least amount of state taxes.
Voluntary Disclosure Agreements (VDA):
- We help clients minimize historical state tax exposures by evaluating and, if necessary, negotiating a VDA with a respective state(s).
Credits and Incentive Review:
- We assist our clients in identifying, securing, and valuing various SALT credits and other tax incentives for job creation, investment, and certain real estate projects. We also help clients with the compliance required to continue receiving such credits or incentives.
Real & Personal Property Tax:
- We facilitate compliance with multiple taxing authorities, identify and remove components of the tax base which should not be subject to assessment, and reduce penalties and interest for late filings and payments. We also assist with identifying exemption and abatement opportunities and other location-based incentives.
- We work with companies to implement best practices to manage gift certificates, consumer rebate programs, uncashed checks, dividend payments, inactive bank accounts, and other common forms of abandoned and unclaimed property.
How Citrin Cooperman Can Help
One common tool that clients take advantage of is our SALT Opportunity & Risk Assessment. This is a unique product we offer that provides a business with a high-level review of the company’s SALT compliance responsibilities and potential savings opportunities, including:
- Revenue Sourcing
- Product Sourcing
- Product Taxability
- Personal Property Tax
- Payroll Tax Issues in a Remote Work Setting
- Unclaimed Property
- Gross Receipts Tax
- Tax Credits & Incentives
- Audit Defense
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