Accurate and timely preparation of your income, franchise, and gross receipts tax returns are just two components of complying with tax filing requirements.
When preparing tax returns, we make strategic use of alternative, but supportable, filing positions and methodologies to minimize tax among the states and cities. That may include, for example, combining a related group of companies to offset the income in one against the loss of another or, taking full advantage of the states' different sourcing rules to apportion less than all of a company's taxable income.
These and others are all legitimate and proven techniques but you will not find them just by reading the tax form instructions or using a tax compliance software package. Instead, you find them by reading deep into the tax statutes, ordinances, regulations, case law, and letter rulings, and meeting with state and city department of revenue officials for their interpretive positions on these matters. That is what FGMK's SALT specialists do every day.
Here are some of the income, franchise, gross receipts tax areas FGMK's SALT specialists can help you with:
- Preparation and strategic review of individual, partnership, corporation, LLC, and trust tax returns
- Nexus review/voluntary disclosure agreements
- Tax audit defense and representation
- Transactional analysis and due diligence reviews
- Combined reporting
- FIN 48 compliance
- Severing and establishing state residency
- Apportionment factor planning
- Public Law 86-272 protection from income taxes