State and local tax services
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.
Grant Thornton perspective on state legislative responses to Multistate Tax Compact election controversies
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
U.S. Senate approves Marketplace Fairness Act, which would allow states to impose sales tax collection requirements on remote sellers
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 enacts tax amnesty program to begin May 13, 2013
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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This website supports Grant Thornton LLP’s marketing of professional services and is not written tax advice directed at the particular facts and circumstances of any person. If you are interested in the subject of this document we encourage you to contact us or an independent tax advisor to discuss the potential application to your particular situation. Nothing herein shall be construed as imposing a limitation on any person from disclosing the tax treatment or tax structure of any matter addressed herein. To the extent this document may be considered to contain written tax advice, any written advice contained in, forwarded with, or attached to this document is not intended by Grant Thornton to be used, and cannot be used, by any person for the purpose of avoiding penalties that may be imposed under the Internal Revenue Code.
