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
Sales and Use Tax Planning
Voluntary Disclosure Agreements
Tax Planning and Compliance
State Audit Defense
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.
The Employee Retention Tax Credit (ERTC) may have expired for most businesses more than a year ago, but there’s still time to file a claim.
Colorado’s Department of Revenue (CDOR) is now allowing Denver partnerships and S corporations to make an election into the SALT Parity Act for the 2022 tax year when filing their 2022 income tax return.
When the actual expense method is used for deducting the business use of a vehicle, the cost of the vehicle is depreciated under MACRS using a 5-year recovery period.