State and Local Tax (SALT)

State and Local Tax

Uncovering Your True State Tax Exposure

The state tax landscape is evolving and changing at a rapid pace. The standards by which a company is deemed to be doing business in a state and thus subject to state sales and income/franchise taxes is changing on a daily basis. For these reasons, it is imperative that your company understand the full extent of its state activities and continually stay abreast of changing and expanding state tax laws, statutes, regulations and rules. With over 80,000 state and local tax jurisdictions nationwide—each with its own set of rules and regulations—staying on top of things is no easy feat. MFA has the expertise necessary to meet this challenge, and can help ensure you are paying no more and no less than what you actually owe.

Selling Across State Borders

Throughout the country, states have intensified efforts to close budget shortfalls by increasing their audit activity in the area of sales tax. Some have also begun broadening their definitions of what constitutes economic nexus, in order to strengthen their local economy and replenish depleted revenue streams.

MFA can help your company prepare for and respond to these changes by giving you a clear understanding of your business' state nexus footprint, the taxability of its sales and its compliance requirements in all of the states where it has nexus. Our process involves in-depth investigation of your business, your products and your revenue streams in order to determine your current responsibilities in each state. We can reveal hidden tax exposure, identify areas where tax is in fact not due and help you take the steps necessary to ensure ongoing compliance with each state's filing requirements.

If and when state auditors do pay your company a visit, MFA offers complete audit representation. We handle the whole process, responding to requests, conducting research, interpreting and organizing data, qualifying exposure and presenting findings to your auditors. Leave the heavy lifting to us.

Apportionment and Beyond

The state and local tax professionals at MFA are well versed in the apportionment of state tax, and can provide your company with a roadmap for your multiple income and franchise tax returns. Our taxability matrixes leave no stone unturned, so you can be sure your company is paying the right amount to each state each and every time. We can also assist your company and its subsidiaries in evaluating various consolidated and separate filing strategies to determine which works to your best advantage.

MFA’s state and local tax service capabilities include:

  • State and Local Income/Franchise Tax Planning and Compliance
  • Sales and Use Tax Consulting and Compliance
  • Federal and State Audit Defense
  • Payroll Tax Consulting and Compliance
  • State Apportionment Review and Analysis
  • Nexus/Compliance Review
  • Multi-State Taxability Matrices
  • Tax Planning and Filing Methodologies
Contact Shannan Cuddy

RELATED TEAM MEMBERS

Shannan Gilmartin Cuddy Lead Partner – State and Local Tax Practice (978) 557-5338

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State and Local Tax Practice

To learn more, download our State and Local Tax brochure.

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