In addition to the federal government, the U.S. has 50 states with their own tax rules and regulations plus many, many other local taxing jurisdictions such as counties, cities, and other localities.  The state and local tax jurisdiction map is vast and each relevant jurisdiction will be relevant to the taxpayers depending on how widespread their corporate footprint is.  Generally, the states and local tax jurisdictions will seek to tax taxpayers if they have property, payroll, or sales in their territory.  At MEG CPA, we work with multi-state taxpayers on a regular basis and help make sure their income is properly and fairly allocated and apportioned to the relevant taxing jurisdictions.  Oftentimes, we help clients become compliant when they haven’t been paying attention to the growing footprint via nexus studies and by entering into voluntary disclosure agreements to save as much as possible in terms of penalties and interest.  Another type of state and local tax includes property taxes, which can subject your inventory and property, plant, and equipment to a local tax and that is directly based on the value of such property. 

Navigating the complex landscape of state and local taxes in the U.S. requires expertise and precision, as each of the 50 states and numerous local jurisdictions have their own tax rules and regulations. At MEG CPA, we specialize in assisting multi-state taxpayers with their state and local income and franchise tax obligations, ensuring accurate and fair allocation of income to relevant jurisdictions.

Our team works diligently to help clients stay compliant, conducting nexus studies and voluntary disclosure agreements to minimize penalties and interest. We also manage property taxes, ensuring inventory, property, plant, and equipment are accurately valued and taxed accordingly. Whether your corporate footprint spans a few states or the entire nation, MEG CPA provides tailored solutions to meet your state and local tax needs.