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State and local tax (SALT)
Discover strategies to tackle state and local tax burdens and realize opportunities
Helping you navigate in uncertain times
More agile tax models are needed in the face of global uncertainties to allow the tax function to effectively provide critical inputs in business decisions. Companies should consider:
- Effective cash tax management through minimizing taxable income, obtaining available refunds, and reducing required tax payments
- Actions to stabilize supply chains while bracing for an unpredictable revenue and profitability mix in key markets
- Resources needed to meet your ongoing indirect and direct tax compliance requirements, imposed by the various taxing authorities
- Opportunities focused on becoming more flexible in responding to arising uncertainties
Navigating state and local tax compliance and planning for the future has always been challenging. Now, businesses must take what was put into place post-federal tax reform and post-Wayfair and adapt it to a rapidly changing situation. Meeting this challenge will require a new vision of how we work and what we are trying to accomplish.
Equally important, companies will need to uncover cash and increase liquidity to meet demand and stay afloat.
Please visit us often for updates and resources as we navigate these uncertain times together.
Stay up-to-date on State and Local Tax relief related to COVID-19
Strategies and solutions for your business objectives
As companies need to navigate the state tax implications of federal tax reform and Wayfair, the tax department continues to be redefined and is increasingly becoming a strategic business enabler. As a result, state and local tax professionals need a strategy to stay ahead of and manage state and local tax burdens and to identify opportunities that result from evolving changes in legislation and administrative policy changes.
PwC’s State and Local Tax (SALT) practice can help you with strategies to manage your state and local tax issues by recommending solutions that are consistent with your company’s overall business objectives. We can also identify appropriate tax treatment that is consistent with good business practices and states’ applicable tax laws and rules.
South Dakota v. Wayfair - Key considerations
In the landmark case of South Dakota v. Wayfair, the US Supreme Court overturned the Quill physical presence standard, finding it “unsound and incorrect.” Justice Anthony Kennedy delivered the opinion of the Court, stating that Quill imposes the sort of arbitrary, formalistic distinction that modern Commerce Clause precedents disavow in favor of a sensitive case-by-case analysis of purposes and effects.
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