State & Local Tax (SALT)
Laws and regulations that determine the amount of state and local tax (SALT) that your business is required to pay are constantly changing. Honkamp’s team of SALT experts can help you stay on top of current regulations and changes.
Several ways we can help you
Identify your potential refunds
The numerous changes in the area of sales tax have increased the complexity of potential refunds. Exemptions are available, which can reduce sales and use tax. If you are not aware of these exemptions, you cannot use them to your advantage. The sales tax specialists at Honkamp will review your records for the exemptions that your business deserves.
Minimize your potential exposure
Many states with budgets impacted by the current economy are becoming more aggressive in enforcing current nexus and state tax laws. As a result, states are increasing their efforts in collecting more sales and use tax from businesses. Will your business be one of them? If you are selected for a sales tax audit, do you know your exposure?
There is a good chance you have exposure and do not know it. Honkamp can help. We will advise you on how to organize your business to limit your exposure to sales tax. Our sales and use tax professionals can review your records and identify your risks of exposure.
Tax examination representation
Have you already been selected for a sales use tax audit? If your state's department of revenue has already assessed you for past sales or use tax, Honkamp can represent you during your examination.