Skoda Minotti’s state and local tax (SALT) team can assist your business in all aspects of state and local income tax issues. We have experience with all states that impose a state income tax. We also have vast experience with individual income tax issues. We often will participate in both internal and external speaking engagements on various state and local income tax issues.
We can assist your business in the following areas:
- Tax compliance – we can assist with the preparation of the required state and local income tax returns.
- Return review – we will conduct a review of your entity’s state tax returns to determine if there are any underlying issues and/or potential planning opportunities.
- Nexus analysis – we will conduct a state income tax analysis for your entity. While conducting this analysis, we will determine additional filings that are required, and also to determine if any filings can be stopped.
- Voluntary disclosures – as part of the nexus analysis we will assist with addressing any voluntary disclosures that are necessary. We have experience in filing voluntary disclosures in every state that imposes a state income tax.
- State income tax audits – if your entity receives a state audit letter, we can assist you with the audit from start to finish.
- State income tax notices – we can assist your business in responding to various notices received from a state and/or city.
State income tax audits
- We were handling a Wisconsin audit for a client. The original assessment received was $60,000, and we were able to reduce it to a $100,000 refund.
- For another audit we assisted a client with that involved individual income tax, the state had issued an original assessment for about $250,000. In reviewing the return in question, we determined that the non-resident’s Ohio income had been overstated, and were able to reduce the assessment to under $100,000 and secure refunds for other years open under statute.