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Tax & Business

State & Local Tax

Watch and Money
2016 YEAR-END TAX GUIDE

The Marcum 2016 Year-End Tax Guide continues our tradition of providing timely tax guidance for the upcoming year.

 

State and local tax laws are complex and ever-changing. They pose distinct challenges to businesses and affect all forms of business operations, including C and S corporations, partnerships and sole proprietors.

Marcum LLP's State and Local Tax (SALT) Group assists businesses of all sizes with planning and compliance in connection with State and Local tax requirements. We employ a full complement of SALT experts ready to provide you with planning and solutions to your SALT issues whether you are conducting business in one, several or all 50 states.

Marcum LLP's SALT Group is ready to provide you with the expertise needed to stay compliant in this era of constantly changing state tax laws and regulations impacting both Income and Non-Income taxes.

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State/Local & Income/Franchise Tax Planning Services

Marcum's SALT Consulting Group offers innovative and value-driven income/franchise tax planning strategies for all entities, whether they are conducting business in one, several, or all fifty states. This includes individual tax clients who have Forms K-1 from pass-through entities operating in several states, as well as publicly traded corporations that have operations that require a multi-state presence.

By implementing one, or a combination, of our tax reduction strategies, Marcum helps its clients significantly reduce their effective state tax rate and increase their earnings. The Firm helps its clients understand the ever-changing state income and franchise tax law landscape while recommending optimal tax and business alternatives.

In addition to compliance services, Marcum's state and local income and franchise tax planning strategies include:
  • Nexus reviews - determining where your company should be registered and filing.
  • Review of apportionment methodology - sourcing of revenue to states is complex.
  • Audit defense - proper and skilled representation is critical if the auditor comes knocking.
  • Voluntary disclosure - a viable and money-saving process to become compliant.
  • SALT due diligence reviews in purchase of sales of businesses.
  • Tax provisions and ASC 740 financial statement disclosure.
  • SALT issues related to E-commerce and sales via internet.
  • Combined/Consolidated income tax reporting analysis.
  • Review and analysis of state/local tax incentives and exemptions.
Non-Income Tax Consulting and Compliance

Marcum's SALT Consulting Group's experienced professionals can also help businesses minimize their non-income/franchise tax burden. This allows clients to retain more of their profits that might otherwise be paid out unnecessarily to state and local governments. Our services in the non-income/franchise tax consulting area include sales and use taxes, property tax appeals, tax credit and exemption studies, relocation and expansion incentives, and employee/contractor planning, and unclaimed property compliance.

Our service offerings in the non-income tax area include many similar services as our income/franchise consulting services, but are customized to your particular needs:
  • Sales tax compliance review - are your services or products subject to sales tax?
  • Financial statement disclosure under FAS 5 (Accounting for Contingencies) - review of sales/use tax issues for potential financial statement impact.
  • Taxability studies - review of your company's business and preparation of a state taxability matrix.
  • Use tax - often overlooked, failure to self-assess use tax on purchases can often lead to unpleasant result upon audit Outsourced sales/use tax compliance.
  • E-commerce sales - selling your product via the internet or "in the cloud" can have an impact on your company's requirement to collect and remit sales tax.
  • Exemption certificates - is your company collecting and retaining the proper customer exemption certificates needed under audit?
  • Reverse audits - assist in determining overpayments of sales/use tax, gather the evidence and file the appropriate refund claims on your behalf.
  • Due diligence in business acquisition or sale - often overlooked, sales/use and other non-income tax issues (i.e., employment tax, etc.) should be thoroughly reviewed when buying or selling a business.
  • Property tax review - Marcum can assist in reviewing your property tax assessments and challenging the assessments, if appropriate.
  • Escheat tax - Understanding and complying with the "unclaimed property" rules imposed by states.

Newsletter

Beyond the Numbers

Roundup of business and tax planning ideas

  READ THE LATEST EDITION
 
 
Sales & Use Tax Services

Marcum's Sales & Use Tax Consultants understand state and local tax laws and know how sales and use taxes can affect your business. The Group consists of former tax department auditors and supervisors, as well as experienced consultants in each of our offices. This local and regional access will provide you with advice and experience from both sides of the table in dealing with sales and use tax matters. Whether you have been notified of a pending audit or in the middle of one, or if you just have questions at any level of complexity, we can help.

Our sales and use tax services include:

Tax Audit Representation

Our staff of former tax auditors and supervisors knows audits from both sides of the table and will effectively manage your audit so that you can focus on your business. We keep you informed at every stage, and we are there with you until the case is concluded. We minimize costs through efficiency standards and our attention to detail.

Outsourced Sales and Use Tax Return Preparation

Outsource your multi-jurisdictional tax compliance requirements to us. Give us your data and we will handle all aspects of compliance and reporting.

Voluntary Disclosure/Amnesty Filings

Let us help you minimize and resolve prior-period exposure by negotiating with the taxing authority on your behalf. We can assist with any taxing jurisdiction.

Sales and Use Tax Reverse Audits

Our former tax auditors know how to identify refund opportunities, gather the evidence, and prepare refund claims for submission to tax offices.

Nexus Review

Our nexus team will review your company's operations for potential nexus issues before outside contact from taxing agencies. If you are notified, we will help you develop strategies to minimize your exposure.

Taxability Studies

We will gain an understanding of your business and address the taxability of sales revenues and services sold as well as the taxability of your purchases. We generally will prepare a taxability matrix and/or a technical memorandum which you can use as a reference guide.

Sales and Use Tax Check-Up

Our consultants will analyze your business activities and books and records to determine your company's level of sales and use tax compliance in a given state/ locality. We will give you a list of recommendations on how to improve compliance, how to address issues which may be uncovered and we will identify potential refund areas.

Controversy Resolution

Appeals, penalty and interest abatement negotiations and offers in compromise for cases of doubt as to liability/collectability.

Related State & Local Tax News


Reciprocity Agreement Between New Jersey and Pennsylvania to Remain Intact

 

New Jersey Governor Chris Christie has decided to leave in place a nearly 40-year-old agreement with the state of Pennsylvania, allowing commuters from both states ....


Constitutionality of Bright-line Standard Upheld for Ohio Commercial Activity Tax

 

On November 17, 2016, the Ohio Supreme Court upheld the constitutionality of the Ohio Commercial Activity Tax's (CAT) bright-line nexus standard in three consolidated tax ....


Tax Partner Thomas McGlone wrote about the proposed elimination of tax reciprocity between Pennsylvania and New Jersey, for Philadelphia Business Journal.

 

New Jersey Gov. Chris Christie recently announced that he will end an agreement between New Jersey and Pennsylvania that allows commuters to pay state income ....


California Franchise Tax Board Offers Guidance to Taxpayers Who Claimed Multistate Compact Election

 

The California Franchise Tax Board, on November 1, 2016, issued FTB Notice 2016-03. The purpose of the notice was to inform taxpayers who had claimed ....


Contractors in Georgia may be Subject to Sales Tax

 

Contractors in Georgia deemed to be consumers of goods used outside the state and, therefore, liable for the states Sales and Use Tax under contractor-as-consumer ....


U.S. Supreme Court Denies Review of Gillette State Apportionment Case from California

 

The U.S. Supreme Court ("USSC") has denied certiorari in Gillette Co. v. Franchise Tax Board, where the California high court's holding required corporate taxpayers to ....


New Jersey Set to End Personal Income Tax "Reciprocity" with Pennsylvania

 

New Jersey Governor, Chris Christie, announced that he will end an agreement between New Jersey and Pennsylvania that allows commuters to pay state income tax ....


Rhode Island Budget Bill: Business and Individual Changes for 2017

 

Rhode Island Governor Gina Raimondo signed the State's 2017 fiscal year budget bill on June 14, 2016. The bill includes a number of updates for ....


Tax Flash - New York City Unsolicited Refunds Alert

 

In recent weeks, many Marcum clients and other NYC taxpayers have been in receipt of unsolicited tax refund checks.


Tax Flash - State of Connecticut Passes New Budget

 

On June 2, 2016, Connecticut ("CT") Governor Daniel Malloy signed the state's budget for the 2016-17 fiscal year into law. The legislation contained several noteworthy ....


The Hartford Business Journal published an article by Tax Partners Michael D'Addio and Andrew Ebneter, discussing 2017 tax changes for businesses and individuals in Connecticut.

 

For this week's Friday Focus, we feature a Q&A on tax changes coming starting July 1 because of the new state budget. We spoke with ....


Banking Affiliates' Inclusion within NYC Combined Tax Return

 

New York City Appeals Tribunal - Appeals Division released on May 19, 2016, that a non-nexus banking affiliate does not have to be included in ....


Nevada's Commerce Tax: Is Your Company Ready for its First Annual Filing?

 

As of June 30, 2016, entities conducting business in the state of Nevada will be obligated to file a Commerce Tax Return for the first ....


New York State Budget Agreement for 2016-2017 Reached on Time

 

New York State's political leadership, led by Governor Andrew Cuomo, proudly announced at the end of March that for the sixth straight year, they have reached ....


Long Island Business News turned to National Tax Partner-in-Charge Joseph Perry to understand New York State's new Metropolitan Transportation Authority business surcharge tax.

 

Even as New York State cut its business taxes in a widely publicized effort to provide a more business-friendly climate, it has hiked the Metropolitan ....


Massachusetts Announces Plans for Voluntary Disclosure Program for Settlement of Uncertain Tax Positions

 

Massachusetts is in the planning phase of creating a plan to allow taxpayers to disclose uncertain tax positons to the state and obtain waiver of ....


Elimination of Onerous Pennsylvania Tax on Businesses

 

Effective for tax years beginning on or after January 1, 2016, Pennsylvania has eliminated the Capital Stock and Foreign Franchise tax for all taxpayers. The ....


Illinois Department of Revenue Announces Delay in Issuing 2015 Individual Tax Refunds

The Illinois Department of Revenue has issued a press release announcing that the Department does not anticipate releasing individual tax refunds for the 2016 tax ....


New In Pennsylvania: Back to School on the Educational Improvement Tax Credit

 

How often do you think about where your business' tax dollars are going? What if you had the power to direct your tax dollars towards ....


Connecticut Tax Law Changes for 2015 Tax Year

 

On June 4, 2015, the Connecticut General Assembly passed budget bill H7061 which encompasses a wide range of controversial tax changes to all facets of ....


U.S. Supreme Court Issues Decision for Taxpayers in Maryland - Could Have Impact on Taxpayer's in Other States

 

The United States Supreme Court yesterday issued their decision (5-4) in the taxpayer's favor in a case involving whether a State can limit the ability ....


Massachusetts Tax Amnesty - Time Is Running Out

 

As announced in a prior Marcum Tax Flash, the Massachusetts Department of Revenue permitted a 60-day tax amnesty program which began on March 16, 2015 ....


The Times They Are-a-Changin' for California Employers in 2015

 

California lawmakers certainly heeded the call of Bob Dylan's anthem with over 900 new laws, most to take effect January 1, 2015 and others not ....


New York Metropolitan Commuter Transportation Mobility Tax Filing and Payment Changes for 2015

 

New York State's Budget passed in 2014 has significantly changed the filing and payment procedures for the Metropolitan Commuter Transportation Mobility Tax (MCTMT) beginning with ....


2014 FUTA Credit Reduction States

The U.S Department of Labor (DOL) released its list of FUTA credit reduction states for 2014.


Electronic Filing is Mandatory for New York State Withholding Tax Filings Due on or After April 30, 2015

New York State withholding tax returns (Form NYS-1- "Return of Tax Withheld" and NYS-45- "Quarterly Combined Withholding, Wage Reporting, and Unemployment Insurance Return") due on ....


Connecticut Legislates Tax Changes for 2014

The State of Connecticut is facing some difficult economic times in the near future. The state maintains its budgets on a biennial basis and the ....


Rhode Island Budget Bill Reduces Corporate Income Tax Rate, Repeals Franchise Tax, and Requires Combined Reporting Among Other Changes

On June 19, Rhode Island Governor Lincoln Chafee signed the state's fiscal year 2015 budget bill. The bill enacts sweeping changes to the RI tax ....


"Swinging for the Fences" New York Governor Cuomo Unveils His Executive Budget for 2014-2015

New York Governor Andrew Cuomo presented his Executive Budget for fiscal year 2014-2015 yesterday. The Governor's budget (the 4th of his current term) builds on ....


New York's Amazon Law Stands

 

On Monday, Dec. 2nd, the U.S. Supreme Court officially denied Certiorari to Overstock.com and Amazon.com petitions seeking to overturn New York’s law requiring sales tax ....

State & Local Tax Brochure

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Contacts

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Paul Graney

Partner
Tax & Business
Needham, MA
 
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