Multistate Income/Franchise Tax

Nearly every state has some form or combination of an income, franchise, or privilege tax. Accordingly, companies that operate in multiple states face an increasingly difficult burden to comply with each state’s unique regulations. Our team of SALT professionals helps business owners and management become and remain compliant with the applicable state requirements.

As your business grows, it is important to be aware of state and local tax issues and opportunities in all the states where you conduct business. This situation is further complicated by aggressive state and local jurisdictions seeking more and more tax dollars from individuals and businesses. HBK SALT professionals are poised to assist you with these complex and evolving laws and regulations.

Some of the ways we can help you with Multistate Income/Franchise Tax:

Nexus Studies — Review your company’s state and local tax filing obligations.
Due Diligence Reviews — Analyze the potential state and local tax impact of proposed corporate changes, including buy-sell agreements. Conduct a review of your company’s income tax returns to determine if any risks or opportunities are present. The diligence review includes quantifying tax exposure and providing recommendations for future filings.
Voluntary Disclosure Agreements — Negotiate and provide advance filing agreements with state tax departments to satisfy income/franchise tax liabilities, along with reduced or abated penalty/interest.
State and Local Tax Planning — Manage your company’s state tax liability through industry-specific and client-specific state and local tax planning strategies.
Review of Business Structure — Review your company’s current operational and organizational structure to ensure an optimal structure.
Audit Representation — Provide assistance, from the pre-audit conference through the appeals process, with the goal of minimizing income/franchise tax assessments.
Amended State Tax Returns (RAR Adjustments) — Assist with amended state income and franchise tax returns after the completion of an IRS audit.

For more than two decades, our experienced professionals have successfully represented clients of all sizes, across numerous industries, and throughout the country in SALT matters.