For startup companies and mature businesses alike, state tax compliance can be challenging territory. You may understand your state tax liabilities now, but expanding your company and growing your revenues in the future can generate substantial multistate tax exposure that can prove costly. If you’re planning to expand operations across state lines, hire employees in multiple states, or buy or sell companies in other states, you could be liable for state taxes in a range of jurisdictions.
Assessing your company’s tax liability isn’t always as straightforward as it seems. Each state has its own unique tax laws and many local jurisdictions also levy their own taxes. Factors such as the location of your organization, the address of your purchaser, the nature of your products and services, and the amount of business you do in the jurisdiction can all affect your state tax exposure. In addition, many states frequently update their state tax rules as business trends change and states strive to increase revenue, situations which can further complicate your company’s attempts to maintain compliance.
Aprio understands both the growing challenges of assessing tax exposure and the costly consequences of failing to maintain compliance. Our sales and local tax (SALT) team offers comprehensive advisory services in this dedicated area. Our experienced advisors provide nexus consulting services that assist you with understanding your company’s tax liabilities, guide you through exposure from prior years, and ensure that you achieve compliance.
At Aprio, we have more than six decades of experience doing business across state lines. Although we’re based in Georgia, our dedicated SALT group has deep experience in all 50 states, helping Aprio become Georgia’s largest independent, full-service CPA-led consulting firm. Together, our SALT team has more than 50 years of field experience working in Fortune 100 companies, state departments of revenue, public accounting firms, and private law practices. Our clients span all industries including technology, retail and hospitality, construction, manufacturing and distribution, and media and entertainment.
Learn more about the nexus review and tax exposure consulting services Aprio provides for both established businesses and startup companies. Find out how our advisory services can work for your organization, and discover how to work with our experienced SALT team.
Whether your company plans to sell products and services across state lines, employ staff members in multiple states, or establish offices across the country, you need an accurate, up-to-date assessment of your state tax exposure. Since each of the 50 states and the District of Columbia levy dozens of taxes with various rules, and all jurisdictions are subject to frequent tax law changes as they seek to grow revenue, working with a dedicated state and local tax advisory team is essential for your business’s success.
No matter your company’s industry or the size of your business, Aprio’s nexus review services provide critical insight into your organization’s state tax exposure and compliance requirements. Our dedicated SALT team begins with a comprehensive analysis of your business operations in order to identify state tax nexus risk as well as jurisdictions where state tax obligations may no longer be required. Next, we will evaluate all of your company’s revenue streams to assess sales/use and income tax exposures.
Once our SALT team completes this review, we provide a draft report that identifies the states where your organization may need to file tax returns and collect or remit sales and use taxes as well as any potential tax exposure for past periods. After reviewing the draft with your executive team and gathering any additional details, we’ll provide you with a final nexus report. If we determine that your business has tax exposure related to past years, we’ll also recommend next steps for addressing your company’s liabilities (e.g., pursuing voluntary disclosure agreements), and maintaining compliance going forward.
Conducting a nexus study with Aprio’s advisory team helps your company understand its state tax exposure, but this review also offers many more benefits. With our SALT group’s expertise, you’ll be able to address the uncertainty that often surrounds state taxes, and you’ll also mitigate your risk of accruing unintended tax penalties.
After a nexus review, your organization will be on track to create an effective tax strategy, no matter how your company intends to grow. If you’re planning to expand out of state, you’ll understand the state tax implications of those future activities, and if you’re considering selling your business, you’ll ensure that your company doesn’t have hidden state tax exposure that could have a negative impact on your organization’s valuation.
Whether your startup company is poised for significant growth or your mature business already has locations in several states, Aprio’s trusted SALT advisory group provides the nexus review and tax exposure services you need. From understanding nexus as it relates to your business and assessing your company’s state tax footprint to developing a smart tax strategy for your organization, our experienced SALT team offers the comprehensive tax advisory services essential for minimizing liability, maximizing tax credit opportunities, and maintaining compliance.
When you need reliable tax advice for your business, you want to work with a consulting firm that has both deep knowledge and extensive practice. With our dedicated group for state and local tax compliance and our experience in all 50 states, Aprio’s SALT team has the expertise your business needs to succeed.
Don’t put off your company’s nexus review for another day. To learn how Aprio can work on behalf of your business, contact Jeff Glickman by phone at 770-515-8715 for more information about our state and local tax services.