Blurred Vision and Multistate Taxes: Here Comes the Boom!
- Determining whether you business has nexus (having a taxable presence in a state)
- Determining whether something your business sells or buys is taxable for sales tax purposes
- Determining whether one of your entities is "unitary" with another related entity and should file a combined income tax return
- Determining whether some of you business income is "non-business" income and can be allocated instead of apportioned
- Determining if software-as-a-service or cloud computing is taxable for sales tax purposes
- Determining how to source revenue from services or intangible property for sales tax and income tax purposes
- Determining if your business activities qualify your company for specific credits and incentives opportunities (next step, actually capturing and utilizing those credits)
- Remembering to self-assess use tax on taxable purchases when the seller doesn't charge you sales tax
- Determining the impact of IRC Sec. 382 on you company's net operating loss carryforward on a state by state basis
- Knowing how to structure your company's operations in a state tax-efficient manner
Brian Strahle is the owner of LEVERAGE SALT, LLC where he provides state and local tax technical services to accounting firms, law firms and tax research organizations across the United States. He also writes a weekly column in Tax Analysts State Tax Notes entitled, "The SALT Effect." For more info, visit his website: www.leveragestateandlocaltax.com
You can reach Brian at firstname.lastname@example.org.
Because state and local taxes are deceptively simple and endlessly complicated.