State and Local Tax Concerns: Resources to Help You

Staying on top of state and local tax laws can be difficult and time consuming. New court decisions, tax rulings and changes to laws are happening often, and the needs to reduce current tax bills and minimize future ones are top of mind, no matter your location. This blog post is the first in a 4-part State and Local Tax series. The aim of this series is to provide resources to address some of those concerns.

State and local taxes pose complex challenges that businesses and individuals must deal with in an expanding global economy. States continue to change and expand regulations and rules. The complexity of compliance requirements that each state imposes can make staying current with tax obligations very challenging. 

As state taxing authorities become more aggressive, businesses must stay informed to avoid any state tax pitfalls, no matter what jurisdiction you currently or anticipate operating in. Noncompliance of state tax rules and regulations can put a business or individual at risk for tax assessments, including interest and penalties. 

The resources below address some of key considerations for businesses and individuals as they address state and local tax laws:

Income and Franchise Tax – Navigating the complexities of state income, franchise and gross receipts-based taxes can be burdensome and have a wide-ranging impact on your business. Rules vary extensively between states, and states are becoming more creative in their attempts to increase their tax base. Read more…

Sales and Use Tax – State and local sales and use taxes are imposed by 46 jurisdictions in the United States. In Texas, the rates range from 6.25 percent to 8.25 percent and outside of Texas, rates can exceed 10 percent. States are increasingly looking for ways to boost tax revenues by broadening the tax base for sales and use taxes. Read more…

Tax Controversy and Audit Representation – As states look to meet budgetary needs, state tax controversy and audits emerge throughout all spectrums of state and local tax, including income and franchise, sales and use, employment and property taxes. Read more…

In addition, multistate taxation is complex and creates issues as a company expands or sells products or services to businesses or individuals in another state. Companies must decide whether to file a tax return or collect and remit sales and use taxes on sales to those states. In other words, which states does your company have Nexus with? Download Weaver’s Nexus Trend Concerns Insights document to learn more about the legal and practical answers to this common question.