State and Local
OGE Professional Services Ltd works to minimize state and local tax burdens for public and private companies. Our state and local tax professionals are among the most talented in the field. They work diligently to ensure that all opportunities for state and local tax savings are realized through complete analysis and development of effective planning strategies, coupled with successful implementation and firm negotiations with taxing authorities. OGE Professional Services Ltd can register clients in additional states or localities, respond to state and local tax notices, assist with Voluntary Disclosure Agreements and Amnesty Agreements, and evaluate state tax implications of merger and acquisition transactions. Other advisory services provided include: :MaTax Refund & Opportunity Review
Sales and Use Tax Matrices
What is a Nexus Study?
It is difficult to understand Federal tax law; harder still to make sense of all the different state tax laws. State taxes include not only income tax, but also sales and use tax, franchise tax, property tax, etc. At OGECOPS, we have developed a process called a "nexus study" to determine in which states you should or should not be filing all the different types of state taxes. Nexus is defined as the "minimum amount of contact a company must have with a state to owe collection and remission of tax." Quite often, companies have nexus for sales and use tax, and do not have nexus for income tax. Our study helps clients identify these states and help qualify and quantify potential exposure of these taxes. After determining "nexus", we are skilled in helping our clients determine the best way to handle each specific situation. Whether you are a new company, growing company, or a downsizing company, a nexus review can save you money and a great deal of time if done annually. The fee for the study depends on how many states are reviewed and the complexity of the issues in each state.
What are Sales and Use Tax Matrices (VAT)?
Sales and use tax laws can vary between state and local governments. Our first goal when developing a set of sales and use tax matrices is to completely understand our client's business. Sales and use tax normally is not as easy as just researching issues, but also understanding the underlying facts. Many states may interpret a set of facts one way, and other states completely differently. Our goal is to develop an easy to read matrix that allows "field" employees as well as management to read the tax-ability charts of specific products or transactions very simply. Each matrix is specific to your business in the state, and will be developed based on your facts. In addition to determining the tax-ability of a transaction, the matrix will indicate any exemption certificates required to be kept on file. We will also provide a binder of supporting law, in case you have more detailed questions, or are audited. The fee for a sales and use tax matrix depends on the number of states, products, types of customers and transactions to be examined. Often times businesses do not understand their sales and use tax requirements and can incur significant unexpected assessments. We work with company management to understand their sales function and then devise a sales/use tax matrix which can be used by management and sales personnel.
Business and individual tax services offered by OGE Professional Services Ltd include: Business TaxEntity and Year-end Changes
Sale and Exchange of Business Property
Shareholder Distributions and Transfers
Federal, State and Local Income Tax
Gift Tax Returns
Sale of Residence