Dear Business Leaders and CPAs:
State and Local Taxes are a significant percentage of the overall taxes paid by companies and individuals. State and Local governments in the United States annually collect over $1,500,000,000,000 in State and Local individual income, corporate income, sales and property taxes. This is equal to approximately 40% of the annual amount of U.S. income taxes collected by the federal government.
The Anatomy Guide
In the course of our State And Local Tax (SALT) practice we have developed the linked guide – “The Anatomy Of Resolving State Tax Matters”. This addresses the principal Nebraska State and Local Tax issues that we have been working on with our clients and their in-house and outside tax professionals. In it we discuss how SALT disputes can be best resolved.
Before, During and After the Audit
As with all tax matters, State and Local taxes offer the opportunity to choose to plan ahead or to choose to not plan ahead. Planning ahead usually results in the better outcome. In either situation, all taxpayers are subject to being audited. All Audits are either resolved at the Audit level or resolved on Appeal.
The Guide first looks at planning opportunities that can occur before the Audit. This is followed by certain best practices during the Audit and then after the Audit (i.e. the Appeal).
Our SALT Practice Protocol
Over the course of the past few decades we have worked with national and local companies and with CPA Firms to help resolve many types of SALT audits, appeals and other disputes.
Key to the successful resolution of SALT matters is a Protocol which we have developed to help achieve the best outcomes. The details of this Protocol are included in the Anatomy Guide.
Our State and Local Tax Team
While we handle most of the SALT matters for the Firm, others from the McGrath North Tax and Litigation Groups work on or assist on State Tax and Property Tax appeals.
We welcome the opportunity to discuss the planning, resolution and defense of your State and Local Tax matters as you look to grow as part of “The Good Life” in Nebraska.
Nicholas K. Niemann, JD
Partner, McGrath North Law Firm
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