State and Local Tax (SALT)

What works in one jurisdiction does not work in another. What worked yesterday may not work today. The states are forever changing. 

FGMK’s SALT specialists work with you to find the most tax-efficient operating structure and manage your SALT risks. Our experienced SALT specialists work with a diverse client base covering businesses across the country. We provide all three phases of tax management: planning, compliance and controversy. We attend to all three of these phases for each of the state and local tax service lines we offer:

  • Income/Franchise/Gross receipts tax
  • Sales and use tax
  • Tax credits and incentives
  • Personal property tax
  • Payroll/Unemployment tax
  • Unclaimed property (Escheat)

INCOME / FRANCHISE / GROSS RECEIPTS TAX 

  • Preparation and strategic review of tax returns
  • Nexus review/voluntary disclosure agreements
  • Tax audit defense and representation
  • Transactional analysis and due diligence reviews
  • Severing and establishing state residency
  • Apportionment factor planning

SALES AND USE TAX 

  • Sales and use tax recovery/refund studies for overpaid taxes
  • Vendor software selection and tax rate look-up tools
  • Nexus reviews/voluntary disclosure agreements
  • Customized taxability matrices
  • Merger and acquisition reviews
  • Audit defense and representation
  • Exemption certificate management
  • A/P training and sales tax procedural manuals
  • Drop shipment issues

TAX CREDITS AND INCENTIVES 

  • Locate enterprise zone and other tax-favored areas
  • Negotiate and secure incentives, credits, abatements and entitlements
  • Site selection
  • “Stay-or-Go” feasibility

PERSONAL PROPERTY TAX 

  • Personal property tax preparation and review
  • “Ghost asset” elimination of sold, disposed of or abandoned property
  • Elimination of intangible property embedded with tangible property
  • Exemption recovery, e.g. pollution control equipment, inventory freeport exemptions
  • Depreciation and asset classification services, e.g. higher depreciation, lower class lives, later-placed-in-service dates
  • Reduced rates for idle or obsolete equipment, construction-in-progress
  • Elimination of leasehold improvements double taxed

PAYROLL/UNEMPLOYMENT TAX 

  • Independent contractor reviews
  • SUTA refund studies
  • Layoff management/planning
  • Successor liability reviews

UNCLAIMED PROPERTY (ESCHEAT) 

  • Resolve competing state enforcement
  • Planning/audit defense
  • Preparation of reports
  • Voluntary disclosure
  • Determine abandonment and dormancy periods