Industry:  Bottles/Containers, Distribution-Manufacturing
Revenue: N/A

Challenge
The owner of a S Corp headquartered in Missouri, moved his state of residence to Florida.  However, the change was not properly reflected in his state tax returns.

Solution
The tax experts at Brown Smith Wallace helped him realize the tax savings resulting from his change in residency.  He apportioned the S Corp's income on his Missouri non-resident individual return rather than have it taxed at 1005 as a Missouri resident.  As we amended his tax returns, he saw a tax savings of $100,000 over three years.

For more information on our state and local tax services contact Susan Nunez, LL.M., JD at 314.983.1215, snunez@bswllc.com or Pam Huelsman at 314.983.1392, phuelsman@bswllc.com.