State Income and Franchise Tax Services

When you have a state tax strategy in place, the costs associated with state income and franchise taxes can be manageable. As in other business decisions you make, when alternative solutions are analyzed appropriately, these tax strategies can be used to optimize your company’s bottom line. 

Hall & Company’s state income and franchise tax professionals look at your entire organization to create an overall strategic tax approach that makes tax and operational sense. We understand the growing needs of midsized companies like yours. Be confident that the strategies and methods we present align with your tax and business goals. 

Audit defense and appeals

Knowing how to effectively manage a state audit can mean the difference in thousands of dollars of assessed tax. Knowing what administrative remedies are available after the audit is concluded can be even more important. Hall & Company has a team composed of industry experts and former state auditors and attorneys experienced in dealing with state audits, controversy and appeals. We can manage the audit from start to finish as turnkey, perform a pre-audit to uncover exposure areas, consult on specific audit issues as you choose or merely strategically review the closing adjustments.

Multistate tax return review

Staying abreast of state income tax developments is difficult for rapidly growing companies. State administrative procedures, laws and regulations change with time. Missed refund opportunities or worse additional assessments are often the result. 

Our approach is to analyze three years of your company’s filed state tax returns for available credits, alternative filing positions in apportionment methodology, classification of business/non-business income, filing positions and present prospective tax planning ideas. This analysis typically results in tax refunds as well as future tax savings.

Mergers and acquisitions and due diligence

Why wait until the eleventh hour to identify and resolve state tax issues which often become the “deal breakers”? Unknown state income tax and sales tax liabilities can surprise the buyer after the deal has closed. Quantifying these liabilities beforehand is critical. Whether you are on the sale or buy side of the transaction, our specialists can identify the pitfalls (e.g., transferee liability, loss of credits and net operating losses, transfer taxes), recommend purchase/sales strategies to save or mitigate taxes, and uncover hidden assets (e.g., tax attribute carry-forwards, new elections).

State and local tax reduction strategies

Due to differences in tax systems among the states, how you structure your organization can have a significant impact on your state tax liabilities and bottom line. Few corporate organizations naturally evolve into a tax-efficient legal structure. Hall & Company can help your company take advantage of special legal entity forms that generate benefits in certain tax jurisdictions.