DeVito & Co., LLC
Nearly all business decisions made by companies with multi-state operations have state and local tax consequences. Most companies that answer yes to any of the following questions below need a state and local tax advisor.
- Does your company operate in multiple states?
- Is your company entering into new states or new markets?
- Is your company purchasing assets or an entire business?
- Are the owners looking to sell a portion of or all of their business?
With over 5,000 taxing jurisdictions, state and local taxes can become burdensome to even the simplest business organization. Although there are many bedrock principles to state and local taxation (e.g., nexus), most jurisdictions operate under their own set of guiding principles and constantly changing legislative mandates. Consequently, your tax advisor needs to be experienced and knowledgeable about the unique nature of state and local taxation.
DeVito & Co., LLC has recognized the increasing burden of state and local taxes on our clients as most jurisdictions struggle to close budget deficits. Our tax department can provide assistance with the following:
- Nexus studies, which determine those jurisdictions where the company must file tax returns, whether income, franchise, sales and use, or other types of taxes (refer to our information sheet located to the right of this webpage for more details about this service)
- Net income and franchise tax apportionment issues, such as determining the proper manner in which to source sales, payroll, and property to the various taxing jurisdictions
- Sales and use taxes, such as providing taxability matrixes of sales and/or purchase transactions (refer to our information sheet located to the right of this webpage for more details about this service)
- State income tax credits, such as credits for investing in certain equipment and/or increasing head count
- Transactional advisory services, such as advising of the state tax consequences of purchasing or selling a business (refer to our information sheet located to the right of this webpage for more details about this service)
- Voluntary disclosure agreements, which is a means of settling past state and/or local tax exposures, with the most advantageous terms
