Tax laws are vastly different from one state to the next. These differences affect personal tax, income tax, employment tax, and sales tax. It’s critical that your tax accountant understand the requirements of state and local taxes, to avoid any discrepancies or issues with your tax filings.
State and local taxes can play a major role in a business’s cash flow and accounting. Understanding the tax variations at the local, state, and national level is important. It takes experience and a breadth of knowledge to effectively manage state and local taxes.
Companies need the assurance and peace of mind to know that their taxes are properly handled. A good CPA should be able to navigate the tax laws at the state and local level, as well as federal and international tax.