State & Local Tax Planning
When it comes to tax planning, the federal government is not your only consideration. With pressure to bring in more revenue, state and local taxing authorities have become more aggressive when it comes to tax compliance and collection. Often, in fact,their laws and codes can be even more confusing and complex than at the federal level, especially when you take into consideration the issues around crossing state, county, and municipal lines. With all of these variables, it’s easy to miss obligations as well as opportunities.
HMC’s clients are located in many states, and navigating various state issues is a normal process for the firm. Many of our clients do business in many states other than Georgia.The tax experts at HMC will help you sort through the state and local tax maze, identifying your obligations and opportunities. We’ll work closely with you to develop a plan that will reduce your exposure and burden while helping you take advantage of proactive opportunities.
When you engage with HMC, we’ll begin with a complete examination of your business, including asking detailed questions about what, where, and how you are doing business in any state, including where your offices and people are located. We will also discuss your business structure and possible plans for expansion or changes in business operations. This process typically requires at least two to three meetings.
During these meetings, we will look for any exceptions in the law regarding taxability in the various states in which you operate and discuss ways you can structure your business to reduce, avoid, or eliminate tax in those states. The ultimate goal, however, is to ensure you are in compliance and are incurring the least tax burden possible.