As businesses grow many choose to separate the tax consequences of the business from those of the owners. This can be in response to regulatory compliance issues, economics, or simply a practical decision to simplify the tax returns of the owners. Regardless of the reason for incorporating, complexity ensues and Clarus Partners brings clarity to this increasingly complex environment. Our team of corporate tax experts includes professionals with the know-how to manage large, multi-jurisdictional businesses.
Corporate Federal Income Tax
The US has one of the highest corporate tax rates in the world and an incredibly complex system of incentives. Clarus' experienced team of corporate tax professionals can help with both corporate tax consulting and corporate tax preparation. We streamline processes so that efficiency in the compliance process is maximized and more time can be devoted to capitalizing on the many corporate tax incentives available, identification of opportunities for improved cash flow and implementing strong corporate tax planning.
Corporate State & Local Tax
Systems of corporate state & local taxation vary widely from state to state. Many of the systems evolved at a much simpler time when the economy was dominated by manufacturers and there were very few multinational businesses. The emergence of the service business, technology, and large multi-national corporate businesses has drastically increased the complexity of the state & local tax landscape.
Further, budgetary constraints at the state level have increased the scrutiny out-of-state businesses receive when they expand into new markets. States continue to tinker with their systems of taxation, making changes on a regular basis. The stakes continue to grow for multi-jurisdictional businesses and the complexity increases every year. Clarus can help.
Our state and local corporate tax services include:- Allocation and Apportionment Reviews
- Compliance/Loan Staff arrangements
- Audit management
- Nexus Studies
- Sales and Use Tax Diagnostic Review
- Transactional Planning
- Voluntary Disclosures
International Corporate Taxes
Companies today often find themselves looking to expand outside the United States. The global economy requires a closer relationship between a company’s tax and business operations to maximize cash tax savings opportunities and tax efficiencies. Read more about our international tax expertise.
Financial Reporting of Corporate Tax Results
When a business decides to incorporate and is subjected to federal, state, local, and international income taxes at the corporate level, the economic effect of the payment of those tax obligations must be recorded in the company’s financial statements. Complexity can become significant in corporations with multiple lines of business and in companies with intricate organizational structures that do business in many different jurisdictions.
Further complicating the issue is the uncertainty of tax effects for many transactions. In today’s world, US GAAP requires the tax liability associated with “uncertain” tax positions be assessed and recorded.
The professionals on Clarus’s corporate tax team have assisted numerous companies doing business all over the world with this complex analysis. The stakes for getting it right are high, experience matters.
Contact Us to Get Started Today
We take pride in building personal relationships with our clients. That is why our clients have direct and regular communication with our partners and senior team leaders. If you would like to discuss corporate tax consulting, corporate tax preparation or any of our corporate tax services, please contact Brent Johnson, partner in our Columbus, Ohio office. We look forward to discussing how Clarus can serve your company.
