- State Tax Apportionment Strategy Saves Company $850K
- Establishing Nexus
Challenge: A company, doing business entirely within one state, was filing its tax return correctly. However, it was discovered that if the company was subject to allocation and apportionment the majority of its sales would be allocated outside its home state.
- Consolidating Results
Challenge: During the review of a new client's state tax return, we noticed the company had filed separate state income tax returns since the company's inception. This resulted in an elected over payment.
- Realizing Savings by Changing Residency
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.
- Ensuring Technological Reliability
Challenge: Supporting independent dealers, most of this company’s sales are made to their retailers online. With technology becoming so critical it became imperative for this company to ensure their technological reliability.
- Process Improvement Helps Third Generation Family-Owned Business Fraud and Avoid Bankruptcy