Multistate Tax Update Plus Practical Tips to Minimize Exposure and Be Compliant - Recorded Webinar

Construction and Real Estate

January 07, 2014
by Craig Cookle, Daryl Ohland, CPA, CIRM, MST

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Craig Cookle Craig Cookle
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Daryl Ohland Daryl Ohland, CPA, CIRM, MST
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This webinar was recorded January 7, 2014.
 
States and local jurisdictions are desperately searching for revenue and have added more resources to aggressively identify businesses that are not filing the necessary tax returns or underpaying their taxes. Construction and real estate entities are doing business in more states and are often targeted by state and local government agencies for noncompliance with tax return filings because of licensing or registration issues with different agencies. 

When overlooked, missed state tax return filings can cost you the profit margin on your out-of-state contract—and then some.  A seemingly small amount of tax due along with interest and negligence penalties can quickly grow over time and turn into a bigger headache for the company. In general the statute of limitations does not begin to toll until actual returns are filed with a state taxing agency.  States can go back six, eight, or more periods when the proper tax returns have not been filed.  Are you compliant when it comes to filing property tax, withholding tax, sales and use tax, and income and franchise tax returns in the states you conduct business in?  Are your customer contracts worded in a manner that would allow you to recover unpaid taxes for prior years?
 
During this informative webinar, presenters not only covered multistate tax return filing requirements, but also suggested solutions on becoming compliant with state tax issues. 

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Length: 37 pages (PDF 531 kB,WMV 14714 kB)

 

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