As your business grows, so does the challenge of keeping current with the overwhelming number of ever-changing state and local tax laws and regulations.
As your business grows, so does the challenge of keeping current with the overwhelming number of ever-changing state and local tax laws and regulations.
Being caught by aggressive state and local governments tax collection methods and strict penalties for non-compliance can seriously impair the financial performance of your business.
The RubinBrown State and Local Tax Services (SALT) Group’s direct experience with all categories of state and local tax matters helps you proactively manage your business’ state and local tax obligations. The RubinBrown SALT Services Group offers a complete range of consulting, compliance and dispute resolution services to meet the challenge of managing your growing operations.
Actively addressing your business’ tax position relating to revenue, profits as well as the net worth of your business is important. Our team provides the following services to achieve your goals:
Owning and operating real and personal business property can create reporting requirements and direct expenses to the bottom line. Effectively managing your company’s assets can provide an opportunity to reallocate resources from current cash flows. Our team provides the following services:
Administrating transactional taxes pose significant risks relating to proper taxability determinations, process implementation and reporting. Our team mitigates those risks with the following services:
Ever-evolving programs are available as your business grows and expands. Our services identify, negotiate, secure and monitor:
RubinBrown’s Multistate Tax Physical (MTP) is a low cost service provided to help businesses get a better handle on their state and local taxes. The MTP is:
Through a review and analysis of current operations, as well as future business goals, we can deliver business-driven solutions that will help your company optimize profits and cash flow, while also managing tax costs as your business continues to grow and to limit unanticipated state tax exposure.
Key areas of operations for companies subject to multistate taxation include, but are not limited to:
The MTP can yield financial benefits for companies that:
Organizations that know their state and local profile usually see the following benefits:
The MTP concludes with a written report, summarizing the areas reviewed and discussion points for additional consideration. The report will cover areas of potential refund opportunities, liabilities, planning, and additional review.
National Manufacturer
The manufacturer was contacted by a state in which the client was not filing corporate income tax returns. RubinBrown assisted with the response to the nexus questionnaire and in doing so was able to convince the state that the company was not subject to their corporate income tax laws because the activities were limited to the mere solicitation of sales of tangible personal property. The estimated tax savings was more than $100,000.
Nationwide Retailer
The estimated tax savings was more than $100,000. Applying existing case law and state statutes, RubinBrown SALT professionals were able to identify errors in reported taxable sales for sales tax purposes. We were successful in achieving tax refunds of $1.2 million from various states.
Full Service Hotel
Following the periodic reassessment of real property, our professionals used an innovative valuation model to obtain more than $110,000 of first year’s tax savings for this top of the line hotel facility.
Public Relations Firm
The estimated tax savings was more than $100,000. RubinBrown reviewed income tax returns for the past three years that had previously been reviewed by an internationally known accounting firm. We were able to identify and document a seldom utilized tax credit that resulted in tax refunds of more than $360,000 for the client.
National Service Provider
An inquiry from a state prompted this client to engage RubinBrown to assist them with an Unclaimed Property review. Our services included recommending appropriate internal control policies to be incorporated in future business transactions. Additionally we assisted the client with voluntary disclosures to limit their exposure to future potential liabilities.
The RubinBrown State and Local Tax Group has compiled a list of valuable online resources we feel may be helpful to you and your business. Below you will find links to various tools and Web sites related to state and local tax laws and regulations.
Electronic Tax Handbook
The handbook is an electronic tool that assembles many different tax research resources into one convenient Web page. This tool is provided by the Taxpayers Research Institute of Missouri, a division of Associated Industries of Missouri.
State Departments of Revenue
Access a complete listing of departments of revenue organized by state, including the District of Columbia.
Baker Tilly International
American Institute of Certified Public Accountants
Institute for Professionals in Taxation