As revenue drops, states are ramping up their audit activities, enacting new taxes, regulations and surcharges as a way of funding budget shortfalls. As a business owner operating in multiple states, you may not be aware of the shifting tax policies and legislation that impact your tax obligations or your company’s “nexus” (a connection with a state that subjects you to its tax laws), leaving you vulnerable to penalties and late fees or missed tax savings opportunities. At GPP, our priority is to manage this vulnerability through proactive state tax planning. In the event of an audit in any state in the nation, we take steps to mitigate your tax liability and, in most cases, act as your trusted agent, dealing directly with the officials of that state. Our professionals ask the necessary questions to gain a thorough understanding of your business and then fashion a plan specific to your needs.
It is a complex assessment determining whether you owe sales and use tax, income tax, franchise tax or other business taxes in one or multiple states in which you do business, but are not physically located. Ideally, you should examine whether you will have nexus before you begin operations across state lines. At GPP, we take our clients through a thorough process to determine their nexus, beginning with an extensive Multi-State Nexus questionnaire.
Some items are our questionnaire include:
- Do you have inventory in a state from which deliveries are made to customers?
- Do you make sales to end-users (consumers)?
- Do you attend tradeshows/fairs?
- Do you engage, train or evaluate employees or customers?
- Do you have any US employees working outside of the US?
If you are interested in our questionnaire, click here to enter your information to receive it.
We offer a wide range of SALT services to meet any of your state and local tax needs including:
- Multi-State income tax diagnostic review
- Multi-State tax amnesty and voluntary disclosure agreement preparation
- Multi-State taxability matrices preparation
- Multi-State tax minimization strategy development and implementation
- Multi-State corporate restructuring
- Multi-State tax audit management and defense
- Multi-State tax credit and incentive management
- Multi-State sales and use tax review
- Multi-State tax research and issue analysis
- Multi-State personal property tax analysis
- Multi-State tax education and training
- Texas franchise tax reporting
- Texas franchise tax audit management and defense
- Texas franchise tax notice resolution
- Texas sales tax and use tax audit management and defense
- Texas sales tax and use tax consulting
To receive answers to your questions or contact an experienced professional who understands state and local taxes, contact us at 972-818-5300.