Multistate Income, Franchise and Gross Receipts Tax

PRIMARY CONTACTS: Stephen R. Worth CPA, JD

Nearly every state has some form or a combination of an income, franchise or privilege tax. Accordingly, companies that operate in multiple states face an increasingly difficult burden to comply with states' complex and ever-changing laws and regulations.

Our team of State and Local Tax professionals is committed to assisting you in complying with these state tax laws and regulations and achieving your state tax goals. Some of the ways we can assist and add value to your organization include:

Nexus Studies - Review of your company's state and local tax filing obligations.

Due Diligence Reviews - Analysis of the potential state and local tax impact of proposed corporate changes, including buy-sell agreements.

Voluntary Disclosure Agreements - Negotiations and advance filing agreements with state tax departments to satisfy income/franchise tax liabilities, along with reduced or abated penalty/interest.

State and Local Tax Planning - Management of your company's state tax liability through industry and client-specific state and local tax planning strategies.

Review of Business Structure - Review of your company's current operational and organizational structure to ensure optimal structure.

Audit Representation - Assistance from the pre-audit conference through the appeals process to help minimize income/franchise tax assessments.

Amended State Tax Returns (RAR Adjustments) - Assistance with amended state income and franchise tax returns after the completion of an IRS audit.

Our experienced professionals have been extremely successful in representing clients of all sizes and across numerous industries in matters such as those described above. The insight, innovation and experience of Schneider Downs' State and Local Tax professionals can assist you in navigating the labyrinth of income/franchise tax laws.

About Schneider Downs Tax Advisors 

With one of the largest regional tax practices in the country, Schneider Downs Tax Advisors’ personal focus on clients and in-depth understanding of current issues ensures that clients are complying with tax filing requirements and maximizing tax benefits. Our industry knowledge and focus ensures delivery of technical tax strategies which can be implemented as practical business initiatives. Learn more at www.schneiderdowns.com/tax-services.

case studies
 
                                    Company impacted by ransomware.
big problem:
Company impacted by ransomware.
big thinking:
Restore system on-site and avoid six-figure ransom.
 
                                    Inefficient tax credit realization.
big problem:
Inefficient tax credit realization.
big thinking:
Identified a $900,000 tax credit, nearly twice as much as prior years.
our thoughts on

Ohio Enacts Pass-Through Entity Tax

Read about Ohio enacting Senate Bill 246, the pass-through entity tax as a "SALT Cap workaround" allowing PTEs to elect to be taxed at the entity level.

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What You Should Know About PA’s Latest Tax Law Changes

Learn more about July 8, 2022 signed PA House Bill 1342 outlining the corporate net income tax, rate change and sales and use tax on peer-to-peer car sharing updates.

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Pennsylvania 2021-2022 Budget Expands the Educational Improvement Tax Credit Program

Learn more about the $40 million boost to the educational improvement tax credit (“EITC”) program and the potential tax credit for businesses.

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Ohio Update on the Unemployment Benefits Exclusion for Taxpayers Who Filed Prior to the Enactment of the American Rescue Plan Act

Learn more about the unemployment benefits exclusion for Ohio taxpayers who filed their 2020 taxes prior to the enactment of the American Rescue Plan.

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Ohio Sales Tax Holiday 2021

Learn more about Ohio’s sales tax holiday and when it will occur in 2021 as well as what is included.

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Florida Enacts Sales and Use Tax Economic Nexus

Learn more about Florida enacting the Sales and Use Tax economic nexus added on July 1, 2021.

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Nonresident Taxpayers May Be Eligible for Refunds of Ohio Tax for Gain on the Sale of a Business Interest

Learn more about The Ohio Supreme Court’s decision which led the Ohio Department of Taxation to issue refunds to nonresident taxpayers who have previously paid tax on the capital gain from the sale of a business interest that is conducted within the state.

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