From strategic planning to compliance, the state and local tax (SALT) services professionals at UHY Advisors have the experience and resources to improve your overall state and local tax position. We offer a variety of services that provide solutions to today’s complex challenges including services for state income and franchise taxes, transaction taxes, property taxes, credits and incentives, and unclaimed property. We believe in offering the highest quality of personal service. Our professionals provide the personal attention and focus to help you understanding how individual decisions could affect your company's overall tax issues. We take the time to build a productive relationship to understand your challenges and provide the most effective solutions. State and local tax issues require a special combination of knowledge, competencies, and experience which is why our national state and local tax professionals are fully dedicated to this specialty. Some of our specific services include:
Employees traveling to multiple states for work during the year may soon see some relief when filing taxes. Senate Democrats and Republicans have come to an agreement on a bill that would ease the filing process for these employees. The bill would simplify and standardize state income tax collection for traveling employees working out of state temporarily. The bill would also provide relief for employers who must comply with withholding and reporting requirements.
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On Oct. 4, 2018, New Jersey adopted several changes to the New Jersey Corporation Business Tax including requiring combined reporting for tax years ending on and after July 31, 2019. This requires companies that have common ownership and are engaged in a unitary business to file a combined New Jersey return if at least one of the entities is subject to New Jersey Corporation Business Tax.
The program begins on November 15, 2018 and ends January 15, 2019.
The Supreme Court's decision in South Dakota v. Wayfair will impact the way all companies will handle sales and use tax. In case you missed it, UHY Advisors hosted a webinar on how the Supreme Court's decision has significantly altered the standard to determine whether a company is required to collect and remit sales and use tax.
On Aug. 23, 2018, the Internal Revenue Service issued proposed regulations governing the availability of charitable contribution deductions when a taxpayer expects to receive a corresponding state or local tax credit.