Recommended read for all small business if you are multistate or plan to be. The tax laws in states are becoming more and more complex with rapid revisions due to state’s economic strategy.
Excerpt: Businesses today face a number of challenges in managing state and local taxes. States are struggling to meet budgets and are aggressively looking to find tax dollars by auditing, asserting nexus (filing requirements), or interpreting statutes/regulations in their favor, creating a risky environment for businesses, says John Trippier, director of multistate tax in the Multistate Tax Practice at McDonald Hopkins LLC. “Businesses are at the highest risk ever of being contacted by state or local governments, yet their tax/ accounting departments are being asked to do more with fewer people,” says Trippier. Smart Business spoke with Trippier about what businesses can do to meet multistate and local tax challenges by focusing on the past, present and future.
Read full article via How to address the challenges of today’s multistate market | Smart Business.