In recent years, a significant trend has emerged among the states regarding tax reform. Many states have introduced or have passed legislation that reduces the state income tax rate applicable to individuals, corporations, or both, while attempting to increase tax revenue from consumption taxes.
Citrin Cooperman's dedicated SALT professionals stay abreast of the rules and regulations to help you successfully navigate your tax liabilities. Whatever level of activity you pursue in U.S. domestic markets, our skilled professionals can develop a multistate tax-planning program tailored to your company’s specific requirements.
Our services include:
Audit Representation – We have extensive experience in working with state tax auditors to help minimize any potential assessments and maximize potential refunds.
Compliance Review – We review and provide guidance on how clients can efficiently file state tax returns to potentially help clients save money in compliance fees and ultimate taxes.
Nexus Review – We analyze our clients’ business operations in order to determine the company’s tax filing obligations. Our ‘Taxability Matrix’ allows us to calculate their need to collect and remit sales taxes in a state(s).
Tax Planning – We evaluate, recommend, and assist in implementing tax-planning strategies to ensure our clients legally pay the least amount of state taxes.
Incentives and Credit Review – We assist our clients in identifying credits and incentives, including film production tax incentives, to which they may be entitled. In addition, we help clients with the compliance necessary to receive such credits and incentives.
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).