State And Local Tax Services
For most companies, the overall tax burden is one of the top five expenses, with the state and local tax burden averaging approximately 45% of that expense.
States have become more aggressive and tax laws are more complex, increasing the risk and the cost of compliance. Despite an increase in tax liabilities and a more complex environment, many companies are downsizing or, at best, maintaining the budget of the tax function. Tax departments are forced to spend most internal resources on compliance requirements and reacting to audit issues or to specific transactional events. Responsibility for state and local taxes, particularly indirect taxes (e.g., sales and use, property and employment, county tax, city tax) may fall under the control of different departments, rendering management of the total state and local tax burden a more time-consuming and complex task.
What comprises state & local tax services?
The key to appropriately managing a company’s overall state and local tax cost is to align tax strategies with business initiatives and proceed with assisting the company with implementation. Chugh CPAs, LLP’s State & Local Tax Practice can provide the knowledge, experience, resources, and processes to bridge the gap between what is expected of a company’s tax department and its current capacity. In addition to having the depth of technical knowledge and experience, our professionals are knowledgeable about the business challenges that companies are facing and how those challenges affect a company’s state and local tax position. Our national network of practitioners focuses on both direct and indirect state and local taxes by offering a broad array of services. We are organized to efficiently serve our clients and our services reflect the latest judicial developments.