Multi-state tax is another area in which we have deep experience. This area includes state income, franchise, sales and use, and employment taxes. Multi-state tax is similar to international tax in that transactions and activities occur accross mulitple jurisdictions, each with their own set of laws and regulations.
Many companies begin doing business outside of their home state and do not realize that they have triggered a taxable business presence, referred to as "nexus," within the new business state. Once the state taxing authority discovers a company has been doing business in the state, ususally years later, the taxing authority will assess tax, penalties, and interest for these previous tax years. The statute of limitations may not limit the number of years for which the state taxing authority may access tax.
We can advise and assist you with properly complying with state tax laws and regulations. If you believe your company has been doing business in a state and has not properly complied with the state's tax laws, we can assist you with a "voluntary disclosure" to the state tax authority in order to limit your exposure and liability.
In addition, we can advise and assist you with state tax compliance (tax returns), state tax audits and any notices you may have received from a state taxing authority.
Please contact us if you have any questions regarding multi-state taxes.