State and Local Tax (SALT)
For businesses of all sizes, state and local tax obligations present numerous and complex challenges: frequently changing regulations, state and local tax compliance management systems that vary across jurisdictions and a complicated array of taxes imposed at the state and local levels. This complex landscape is overwhelming for any organization, requiring time and resources that are often scarce, or simply unavailable. Outside support can alleviate uncertainty and minimize potentially costly missteps.
Meet Our Professionals
PKF O’Connor Davies’ State and Local Tax Services practice is focused on helping individuals and businesses navigate tax nuances. Combining highly specific tax expertise and extensive experience, our specialists help ensure that state and local tax matters are handled in a way that reflects a genuine understanding of each client’s unique circumstances.
Insight focused on mitigating risks, identifying opportunities and fueling success.
Working closely with clients throughout the year is integral to formulating sound tax planning strategies. This ongoing relationship not only strengthens the overall tax position but also helps organizations capitalize on opportunities for reducing liability — all of which are reflected in the meticulous preparation of state and local tax returns through our comprehensive state and local tax services.
With recognized facility in the areas of income, sales, payroll, personal property and gross receipts tax as well as unclaimed property, credits and incentives, we support clients with a complete range of state and local tax (SALT) services, including:
- Audit Representation: To minimize potential assessments and maximize potential refunds, abating penalties as required, we work with state tax auditors on the client’s behalf.
- Business Incentives and Tax Credits: To identify beneficial jurisdictions and incentive programs that address each client’s specific scenario.
- Compliance Review: To determine the most efficient state return filing process for reducing tax liability and avoiding compliance penalties.
- Due Diligence Reviews: To determine SALT compliance levels and identify potential exposure or refund opportunities, utilizing advanced state and local tax compliance management systems.
- Taxability Matrix – To ascertain whether our clients’ products or services are subject to sales tax in a particular state(s).
- Nexus Review – To identify exposure or refund opportunities and the need to collect and remit sales taxes.
- Tax Planning – To develop and implement tax planning strategies designed to reduce state tax obligations.
- Incentives and Credit Review – To identify credit and incentive opportunities and assist with the compliance required to qualify for them.
- Voluntary Disclosure Agreements (VDA) – To minimize state tax exposure by evaluating and, as warranted, negotiating with the taxing authority.