For many companies, a large percentage of their overall tax liability comes from state and local taxes. With various taxing jurisdictions becoming ever more aggressive, the puzzle of multistate issues can “tax” a company’s internal resources and drain its profits. The desire for unbiased tax advice is at a premium. Grant Thornton’s state and local tax professionals stand ready to fill that role. Read an overview of our services.
Numerous states have recently acted to renounce membership in the Multistate Tax Compact or departed from significant provisions in the compact. The states’ sudden shift away from the dompact may have major reverberations for taxpayers with significant corporation income tax liabilities in compact states and may even threaten the viability of the compac
On Monday, May 6, by a vote of 69–27, the U.S. Senate passed the Marketplace Fairness Act of 2013 (MFA), which would allow states to require remote (out-of-state) sellers to collect and remit sales and use tax on sales to in-state residents even if the retailer has no physical presence in the state.
Puerto Rico has enacted legislation that creates a tax amnesty program that will be in effect from May 13, 2013, through June 30, 2013.The legislation provides for a full waiver of interest,surcharges and penalties on certain tax debts assessed, or to be assessed, as of Dec.31, 2012.
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