Nexus Studies
Many companies are faced with the dilemma of determining in which states they need to file their tax returns. Because nexus rules are not consistent amongst the states and individual states’ rules often vary between industries, it is difficult for decision makers to make these determinations.
how we help you get there
Boulay prepares nexus reviews to help business leaders make informed state reporting decisions. By taking a proactive approach, staying current on tax legislation, and understanding your company’s unique situation, we help you determine in which states your company has nexus from year to year. We provide you with the knowledge and expertise necessary to assist you with compliance and strategic tax planning, recommending the most appropriate and efficient methods to meet your goals.
How to know if your company needs to review its multistate filing requirements
Companies with sales sourced to more than one state may have a multistate filing requirement. Effective nexus reviews require evaluating a company’s nationwide footprint and connections to states. Relevant state connections often include physical presence, economic presence and affiliate presence.
Common overlooked nexus considerations:
- Audit preparation and strategy: We guide you through the audit process and ensure your documentation is audit-ready.
- Sampling oversight: We help establish reasonable sample pools to avoid errors that can lead to inflated projections.
- Post-fieldwork defense: If needed, we assist with research, consultations, meetings, or appeals after receiving a Preliminary Assessment report.
Nexus determinations often vary between tax types. Boulay’s nexus reviews provide feedback related to income tax, franchise tax and sales taxes.
Post-Nexus Study
Make smart informed choices about state registrations as your business may benefit by utilizing voluntary disclosure agreements (VDA) to reduce penalties and lookback periods for prior tax years. Click here to learn more about VDAs and when they’re most helpful.
Get a Review of your State Income Tax Exposure
In recent years, new tax laws have made it more difficult for businesses to ensure they are in compliance with state income tax or other state taxes they may need to file. Operating a business in multiple states may generate more revenue, but it also increases tax complexity.
Boulay helps businesses understand their multi-state tax exposure and where they need to file. To set up a complimentary meeting, click here to fill out a Nexus Questionnaire, and if you answer “yes” to any of the questions, you may have multi-state tax obligations and we will contact you to discuss.
Tax Partners
set up a complimentary meeting
Determine if you may have multi-state tax obligations through our Nexus Questionnaire. Someone in our State and Local Tax Services Department will be in contact with you soon.