State and Local Tax

State and Local Tax

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The burden of state and local taxes on business has increased much more rapidly than that of federal taxes. State and local taxes are a key consideration in business planning, often surpassing the federal tax impact on some transactions. The professionals at LBMC help minimize these taxes and provide crucial information on an ongoing basis to assist in day-to-day operations. Whether the needs are simple or complex, we can assist in ensuring that the state and local tax burden is minimized.

To help companies deal with the various state and local tax issues, we provide assistance in the areas of:

Sales and Use Tax

  • Analysis of sales and use tax payments to ensure that proper taxes are paid
  • Exposure review for nexus in states in which returns are not being filed, including registration for new state filings
  • Review to help ensure that exempt items are not being taxed
  • Tennessee Tax Audit Defense/Representation and coordination in state sales and use tax examinations
  • Preparation and filing of monthly, quarterly, and annual sales and use tax returns
  • Training for in-house personnel on proper accounting for sales tax purposes
  • Sales Tax Outsourcing
  • Tax Accrual and Audit Solutions

Corporate Franchise & Excise Tax

  • Assistance with state questionnaires
  • Analysis to ensure that tax filings are only made in the required states, including new state registrations
  • Preparation and filing of returns
  • Representation and assistance in state income tax audits
  • Franchise tax job credits
  • Excise employment tax credits

Property Tax

  • Strategies to help reduce tax liability
  • Representation with property tax audits
  • Property tax abatements

Unclaimed Property (Escheat) Reporting

  • Exposure and compliance analysis for Uniform Unclaimed Property Act
  • Representation and coordination of unclaimed property audits

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Streamline your tax compliance and reduce your tax liability starting today.

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