Other Tax Projects

State and Local Tax

Operating a business in multiple states adds a significant level of complexity to tax planning and compliance. If your organization has a presence in multiple states, you need a firm with expertise in State and Local Tax (SALT), and your business strategy should include an in-depth analysis of state and local tax implications.

States are continually looking for ways to increase tax revenues and are enforcing tax laws in an increasingly powerful manner. How a business operates and generates cash flow has a major impact on how the taxpayer is taxed. The current state regulatory environment presents many traps for the uninitiated, which can lead to an increased percentage of a company’s total tax liability that is earmarked for state and local income/franchise taxes.

PKM maintains the resources necessary to address the issues and opportunities that exist for companies that operate across multiple states. We have proven experience implementing state tax savings strategies, as well as day-to-day state tax compliance. In addition, the firm has implemented company-specific strategies that allow for risk reduction while reducing the overall state tax burden, including those beyond state income and franchise taxes, such as sales and use taxes, property taxes, employment taxes and business incentives.

Cost Segregation Study

A Cost Segregation Study is a low-risk, high-return method to quickly recover capital investments and improve cash flow. This process separates new, renovated and existing building costs into components, which enables you to hold onto cash longer by accelerating the depreciation deductions of certain components.

Retaining Tax Credits

Many states, such as Georgia, offer state tax credits to companies that invest in new technology and employee training on these new technologies. The credits are designed to encourage businesses to further develop their workforce through training, which in turn will make Georgia employees more successful. By helping to offset the cost of training and technology, the company has the opportunity to increase profitability and competitiveness. The process of identifying these tax credits, amidst ever-changing laws and regulations, can be cumbersome, confusing and time-consuming. PKM tax professionals have the necessary experience to help businesses identify these tax credit opportunities, implement them and capitalize on the tax advantages the credits can deliver.