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Practice Leaders

State & Local Tax (SALT)

State and local taxes impact all businesses, regardless of size, industry or entity structure, and are constantly changing (almost daily) due to new legislation, court cases and rulings, or simply a state department of revenue changing their interpretation of current law. Additionally, the lack of uniformity of among the states creates a maze of confusion resulting in the risk of underpaying or overpaying tax.

FD SALT specializes in serving emergent start-up companies, middle market companies, private equity owned companies, and foreign-owned companies so they can adapt to state tax law change and complexity, and achieve their business goals in a state tax-efficient manner.

FD SALT assists companies in identifying and taking advantage of state and local statutory credits and discretionary incentives, and delivers services related to the following tax types: income tax, franchise tax, gross receipts taxes (such as the Ohio Commercial Activities Tax, Washington Business and Occupation Tax, Oregon Corporate Activity Tax, Tennessee Business Tax, Nevada Commerce Tax, Virginia Business, Professional and Occupational License Tax), sales and use tax, personal property tax and real estate transfer tax.

Meet the Partner-in-Charge of State & Local Tax

In this video, Brian Strahle introduces himself and key aspects of FD SALT.

Watch now to learn more

 

Income Tax, Franchise Tax and Gross Receipts Tax Services may include:

  • Nexus Review
  • Sales Sourcing Analysis
  • Apportionment Review (factor analysis, allocation vs. apportionment; alternative apportionment)
  • Filing Method Analysis (separate, unitary, combined or consolidated)
  • Tax Base Review (IRC conformity, unique state modifications, etc.)
  • Pass-Through Entity Filing Review (PTE election analysis compared to nonresident withholding / composite filing)
  • Voluntary Disclosure Agreement (VDA) negotiation
  • M&A Due Diligence (buy or sell side)
  • Related Party Transaction Analysis (transfer pricing, restructuring, modeling, what-if scenarios)
  • Net Operating Loss Management, Preservation and Utilization Study
  • Audit Defense and Administrative Appeals Representation
  • Penalty Abatement Requests
  • Private Letter Ruling Requests
  • ASC 740 Consulting (uncertain state income tax positions analysis and review)
  • State Revenue Agent Report (RAR) Compliance
  • Credits and Incentives Review

Sales & Use Tax Services may include:

  • Nexus Review
  • Sales Sourcing Analysis
  • Sales Taxability Studies (taxability of sales and/or purchases; matrix development and maintenance)
  • Exemption Review (for both sales and purchases)
  • Voluntary Disclosure Agreement (VDA) negotiation
  • Audit Defense and Administrative Appeals Representation
  • Penalty Abatement Requests
  • Private Letter Ruling Requests
  • M&A Due Diligence (buy or sell side)
  • ASC 450 Consulting (uncertain sales tax positions analysis and review)
  • Credits and Incentives Review
  • Training Sessions

Personal Property Tax Services may include:

  • Exemptions Review
  • Economic Obsolescence Analysis
  • Functional Obsolescence Analysis
  • Asset Classification Review

Learn More:

PTET

SALT Alert: Pass-Through Entity Tax (PTET) Election Update

With the 2023 tax year extended due dates around the corner, many taxpayers and their advisors are considering whether electing into state pass-through entity tax (PTET) regimes would be beneficial. The first six months of the 2024 calendar year have seen several states make changes to existing PTET regimes or issue clarifying guidance on existing rules.

SALT Alert: Tennessee Overhauls Franchise Tax, Frazier & Deeter

SALT Alert: Tennessee Overhauls Franchise Tax

On May 10, 2024, Tennessee Gov. Bill Lee signed SB 2103 into law, making substantial changes to the state’s franchise tax regime and creating refund opportunities for certain taxpayers.

Practice Leaders

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