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State Tax Analysis & Resolution (STAR)

In today’s ever-changing environment, companies are seeing rapid growth and expansion of their marketplace. It is common to find many companies venturing into new states to sell their products/services. Because of this rapid growth, companies may not have considered the activities of their employees/independent contractors in all of the states they operate. As a result, these companies may also not be aware of the state tax consequences associated with these activities.

The State Tax Analysis and Resolution (STAR) will help you identify your multi-state tax activities and understand how those activities impact your multi-state tax obligations. The STAR is a tool to identify your company’s nexus exposures and compute estimated state tax costs. STAR provides a road map to help you resolve issues and formulate practical planning strategies to help your company reduce any identified state tax costs.

State Tax Analysis and Resolution Deliverables:

  • Weighted Nexus Risk Scores Per State – Income/Franchise Tax (ranked).
  • Estimated Income/Franchise Tax Calculation by State.
  • Income Tax Liability vs. Nexus Score Matrix.
  • Weighted Nexus Risk Scores Per State – Sales/Use Tax Computation by State.
  • Sales/Use Tax Liability vs. Nexus Score Matrix
  • Written report.

Freed Maxick’s State and Local Tax (SALT) practice consists of income tax professionals whose practice focuses on the area of multi-state tax.

CONTACT US to learn more about our Tax Services.

ABOUT US: Freed Maxick CPAs is Western and Upstate New York’s (NY) largest public accounting firm and a Top 100 firm in the U.S. Freed Maxick provides audit, tax and consulting services to closely-held businesses, public (SEC) companies, not-for-profits and governmental entities in Buffalo, Rochester, Syracuse, Albany and NYC, New York.