One sign of a healthy and growing enterprise is when opportunities in markets outside of Illinois emerge. It could be the opportunity to open a second location, a warehouse or distribution center, or even hire new employees to manage the company’s growth. Whatever the reason, when a company’s operations extend beyond state lines there are tax compliance regulations that must be considered. Oftentimes, Chicago business owners and managers are unaware of additional state and local tax compliance issues, while state authorities are only increasing their enforcement efforts in this area. This can create a challenging situation for many businesses.
Selden Fox works with companies in a variety of industries to manage their state and local tax compliance, and reporting needs. We partner with business owners to identify their tax exposure, recognize reporting requirements, and plan for opportunities for future growth. We also have experience providing direction to estates and trusts navigating multi-state compliance concerns.
Our State & Local Tax Services include:
- Business entity restructuring or selection
- Multistate tax minimization strategies
- Tax planning, consulting and procedural reviews
- Audit examination and appeals representation
- Apportionment sourcing strategies for multistate entities
- State personal income tax residency issues
- Multistate and local tax incentive reviews
- Nexus determination
- Voluntary disclosure agreements
Managing tax issues across multiple states can be challenging. This is exacerbated by the fact that each state has their own unique laws. If you are looking for assistance with your tax concerns, Selden Fox can help! For additional information call us at 630.954.1400 or click here to contact us. We look forward to helping you soon.