Are You Managing Your State & Local Tax (SALT) Risk Effectively?
Take Our Free Assessment to Evaluate Your Exposure and Compliance.
SALT regulations are constantly evolving, and ensuring compliance is crucial to avoiding costly penalties and unexpected liabilities. Anchin’s brief assessment will help you evaluate your company’s state and local tax risk and determine whether action might be needed to protect you and your business through three indicators: low level of risk, medium level of risk, and high level of risk listed below:
- Explore: Your responses suggest you could have significant multi-state tax exposure.
- Consider: Your responses suggest your business could have material tax exposure across multiple states.
- Evaluate: Your responses suggest your business may have state and local tax exposure.
Disclaimer: The results and information provided through this assessment are for general informational purposes only and should not be relied upon as professional advice. Anchin makes no representations or warranties regarding the accuracy, completeness, or applicability of the assessment results to your specific situation. For guidance tailored to your individual circumstances, please consult directly with a member of our firm.
How Can You Benefit?
Even if you believe your business is compliant, assessing your SALT exposure is essential. Here’s why:
- Identify Potential Liabilities: State and local tax laws change frequently, often resulting in expanded tax bases targeting a wider range of businesses. Regular assessments and periodic reviews help uncover exposure areas, ensuring your business avoids the risk of back taxes and penalties.
- Strengthen Compliance and Risk Management: Evaluating your tax positions helps mitigate risks related to audits and evolving tax regulations. State taxing authorities are aggressively pursuing taxpayers deemed noncompliant.
- Optimize Tax Planning: Understanding your SALT obligations allows for smarter tax strategies that help minimize liabilities and maximize cash flow. Even a minimal amount of nexus can significantly influence tax obligations, making it crucial to stay informed and proactively monitor and manage these liabilities.
Let’s Talk About Your SALT Strategy
If your assessment raised any questions—or if you just want a second opinion—we’re here to help. Our SALT specialists are ready to walk through your results and explore next steps.
