When your business transactions or economic activity cross state lines, you need to understand the various rules and regulations of each taxing jurisdiction. This is commonly referred to as State and Local Tax (SALT). An effective Nexus Study can identify areas of exposure and help you develop strategies on how to deal with them.
What is Nexus?
Nexus is defined as a minimum level of business activity or connection within another state. If your business operates, owns or leases property, or has employees in a state, you may have created a Nexus in which your business may be subject to taxation within that state.
What is the Benefit of a Nexus Study?
Certain activities might cause Nexus for sales and use tax, income tax, franchise tax or other business taxes. A Nexus Study can provide awareness of potential exposure areas as well as help you better plan business decisions. Understanding Nexus is difficult for most businesses to take on themselves because the laws are changing, complex and vary by state. With our tax expertise and guidance, we can help you quickly break down each state Nexus to calculate the estimated tax burden.
- Business structuring
- Multistate income and franchise tax
- Nexus studies, determination and filing services
- Property tax
- Sales and use tax compliance
- Sales tax refund analysis
- State tax planning
- Strategic planning / expansion advisory
- Tax dispute resolution / state tax controversy
Your Business Situation, Our Guidance and Network
Our team of professionals can reduce the time and complexity in understanding Nexus risk. Through our association with BKR International, a top 10 global accounting association of independent accounting and business advisory firms, we have access to tax professionals nationwide to explore complicated issues. There are BKR member firms in 30+ states in the U.S. who we can call upon for local state tax and regulation guidance on your behalf.
What this means for you is a cost-effective means to get on-the-ground expertise. This keeps your focus on growing your multi-state operations, or on developing proactive strategies to reduce the tax liability of income you earn in other states.
Get Started with a Complimentary Nexus Review
Let’s discuss your business needs and how we can help you be tax smart, not tax stressed. Where applicable, we can provide your business a Nexus Study, as well a professional resources to work through your tax planning options. For your Free Nexus Risk Review, click here. After completing a short questionnaire. Our tax professionals will be able to assess your risk level and talk through with you what it means to your business. From there, our team can offer you guidance on specific actions to take if necessary.