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 aggressive in their attempts to increase their tax base. With substantial ongoing changes in nexus and apportionment rules, keeping up can be a challenge. But these issues do not have to be a drain on your tax department resources and company profits.

Weaver’s experienced state and local tax professionals offer a broad array of tax advisory, controversy and compliance services than can help taxpayers understand the impact income and franchise taxes have on their current and future business operations and opportunities to minimize the impact of these taxes on the organization.

Our income and franchise tax services include:

Nexus Reviews

As states become more aggressive in their enforcement of tax filings, the challenges of complying with all multistate tax filing requirements become more difficult and the risk of noncompliance is greater. Companies expanding into new markets may be at risk of penalties for nonfiling. Weaver can assist companies in examining nexus requirements in the states in which they operate.

Our services include:

• Nexus requirement studies
• Negotiate and obtain voluntary disclosure agreements where needed

State Tax Return Review and Optimization

While most states have similar taxing schemes, slight nuances from state to state can affect a company’s overall tax liability. Through a broad array of tax advisory, controversy and compliance services, Weaver can help clients manage the complexities of various state and local tax issues. We review historical income tax returns to determine whether there are opportunities to reduce the overall tax liability in each state.

Some of the areas we analyze include:

• Elective filing options
• Apportionment methodologies and sourcing of revenue
• Determination of business vs. nonbusiness income
• State specific addbacks/ deductions
• State income tax credits
• Pass-through entity filing options including withholding requirements, composite return elections and pass through entity level tax elections

Multi-Jurisdiction Tax Compliance

Complying with multi-jurisdictional income tax filings is time consuming, labor intensive, and can be costly to manage internally. By lifting the burden from a company’s internal resources, Weaver’s outsourcing and co-sourcing solution can allow internal staff to focus on other business priorities. From reviews of completed returns to full outsourcing of the process, we can offer the support you need.

Tax Controversy and Audit Representation

Whether you’re under audit by a state taxing authority, you’ve received numerous tax notices, or you just need clarification on a tax policy, Weaver’s tax professionals can assist. We have experience working with state departments of revenue in resolving our clients’ issues.

Our services include:

• Assisting with state tax audits
• Obtaining letter rulings
• Obtaining tax clearance certificates
• Managing state tax notices

Specialized Income Tax Assistance

Through a broad array of tax advisory, controversy and compliance services, Weaver can help clients manage the complexities of various state and local tax issues with such services as:

• Legal entity simplification
• Tax efficient supply chain analysis/ management fee reviews
• State amended returns / compliance with Federal RAR adjustments
• State tax ASC 740 assistance
• State tax consulting for Foreign Investments in the U.S.
• Guidance on impact of new state tax policies and legislation