Every state with income or franchise taxes is looking for additional revenue. If your business has property, employees or sales in any given state you most likely have physical nexus.
This has multiple implications:
- Have you registered as a foreign entity so you are protected by state laws?
- Do you have sales of product or services subject to sales taxes? If so, have you registered to collect and remit them?
- Will you be subject to the states income tax or franchise tax rules?
This is a very complex area. With 50 states and hundreds of municipal taxing authorities it is easy to run afoul. Our informed professionals at KRD can help guide you through the regulatory maze.
Contact us today to learn more.