State and local tax obligations present some of the most complex challenges that businesses must navigate. Constantly changing regulations and differing compliance requirements across numerous jurisdictions can make staying current with your various tax obligations challenging.
Anchin’s State & Local Tax Group (SALT) and Tax Controversy Services Group have developed a special expertise in state and local tax issues and can work with you to help lower your tax exposure and remove the administrative burden of compliance.
We work with a wide range of businesses from entrepreneurial startups to large public corporations to design solutions to best fit their business needs. Anchin, Block & Anchin keeps current on ongoing changes in tax laws and regulations in a wide variety of jurisdictions so we are well-positioned to create tax saving opportunities for our clients.
Corporate Tax Services
Strategic Corporate Refund/Opportunity Review
A changing corporate profile as the result of acquisitions, divestitures, new or closing facilities, and variations in the profits and losses of separate corporate operating entities can all impact your state tax liability. Coupled with the complexities of changing tax laws and administrative and/or court cases, your company may be challenged to maximize its state tax posture. Often, previously adopted filing methodologies are no longer beneficial, or worse yet, detrimental.
Our Strategic Corporate Refund/Opportunity services are designed to focus primarily on non-structural issues, including apportionment methodologies, state tax modifications, combined vs. separate filing, state tax credits and other state-related issues.
Federal Audit Changes/RAR Services
Most state and local jurisdictions require the filing of a report, along with remittance of additional taxes and interest, with 60-90 days of a final Federal determination.
Our professionals can assist you with the efficient, timely filing of your state tax reports of IRS adjustments.
State Corporate Tax Compliance
Complying with ever-changing state tax laws, regulations, pronouncements, and cases is a real challenge. Our professionals can prepare and/or review your corporation, partnership, and other pass-through entity tax returns and assist you with applying for voluntary disclosures in states that you may have inadvertently overlooked filing.
Tax Controversy Services
We handle representation before state and local taxing authorities, including tax examinations, filing protests and answering correspondence. Areas of expertise include Corporation tax, Personal income tax, (including residency audits), and Sales & Use Tax. Our team of professionals includes former tax auditors who leverage their experience and knowledge of practice and procedure gained while they were at governmental agencies to provide you with outstanding service.
Due Diligence and Mergers & Acquisitions Planning
Our seasoned team of professionals can assist you in reviewing the state tax posture of targets to determine whether there are issues or unrecorded liabilities that may impact the economics of your potential acquisition.
In merger transactions, it is critical to carefully consider the state tax implications in order to avoid unpleasant surprises, preserve tax attributes and optimize the tax structure of the company post-merger. At Anchin, we can help you through the state tax complexities of your M & A activity.
Sales and Use Tax Review
Because sales and use tax compliance can have a significant impact on the overall financial performance of a business,
Anchin offers a Sales and Use Tax Review. We can determine proper compliance to avoid overpayment, help minimize potential penalties and liabilities, obtain relevant exemptions, and secure any refunds on your behalf.
As part of the review, our tax professionals will conduct a comprehensive overview of your business to ensure compliance across all applicable jurisdictions and identify any tax-savings opportunities. We review aspects of your business with tax implications that often are not adequately addressed, such as contracts, invoices, and marketing claims that can prompt the attention of tax authorities.
The program is uniquely valuable to businesses that are active in many jurisdictions, especially those with sales operations in numerous states that could be unaware of tax liability.
Our Sales Tax Services Include:
- Responsible Party Defense
- Review Sales Tax compliance—state by state
- Sales tax reverse audits/refund studies
- Review company’s internal controls and procedures for sales/use tax
- Voluntary disclosure filing
- Penalty abatement and negotiations
- Evaluate filing requirements and nexus issues
- Penalty and Interest Abatement negotiations
- Deferred Payment arrangements