State Local Tax

Businesses are accustomed to seeking growth and revenue opportunities where they are available. 

In order to stay competitive, it’s essential to leverage all opportunities – regardless of physical location. Most executives don’t consider state location a key concern when building new relationships with customers and vendors. In fact, state lines are virtually invisible to successful businesses. While it may seem insignificant, there can be complex tax issues to consider when conducting economic activities in other states. Due to the complex nature of tax laws and endless parade of updates, most are unaware of state and local tax obligations that can arise simply by having a presence in another state – until they receive notification from a state Department of Revenue. When this happens, it’s impossible to go back and correct the issue.

 

Hanson & Co works with companies in Colorado to identify state and local tax obligations to eliminate unwelcome surprises. Our tax team has years of experience with proactive planning to account for expansion and other changes, financial reviews for peace of mind and representation in case of an audit. Throughout the years we have worked with companies on nexus determination, state and local issues and use tax concerns.

State and Local Tax Services

Contact Us

Tax compliance and planning can be a complicated process that requires the assistance of a seasoned professional. If you are looking for additional support and guidance, then contact us today. For additional information on our tax services contact us at 303-388-1010 or fill out a contact form here to learn how we can minimize your tax exposure and maximize your wealth.

 

The latest from Hanson & Co.

Tax Incentives Extended for 2020

Through the closing weeks of 2019, many Denver business owners were focused on wrapping up year-end items, assessing performance, refining goals and setting new benchmarks. Many were focused on analyzing the company’s expenses, revenues and overall financial position to create the budget for 2020.

DOL Issues Final Overtime Rules

Dedicated employees who commit to working hard to complete a project, meet increased production demands and drive innovation should be rewarded. In addition to their base compensation, other benefits such as retirement plans, health, dental and year-end bonuses are often given. The Department of Labor (DOL) recently issued, Final Rule – Overtime Update, which will impact Denver area employers.

Tax Saving Opportunity for Denver Businesses

As year-end quickly approaches, many Colorado businesses are investigating opportunities to take advantage of tax-saving strategies to reduce tax liabilities. Since the passage of the Tax Cuts and Jobs Act of 2017 (tax reform), and lowering of the overall corporate tax rate, many of the traditional tax credits and deductions have been phased-out. This has left many searching for incentives to leverage to optimize their tax position.