A Comprehensive State Unemployment Tax-Planning Solution
Let's face it. State unemployment taxes are one of the most complex elements of U.S. corporate taxation.
States administer tax-rate calculations through the Department of Labor and Revenue. Therefore, it can impact a company's tax, payroll, finance and human resources function and utilize valuable resources. However, ensuring all state unemployment taxes are calculated and administered properly impacts a company's bottom line and budget.
That's where our solution comes in. Our experienced consultants will step in and conduct a comprehensive audit and review of your company's structure to identify and implement best practices proven to streamline and optimize your company's tax savings.
UI Tax Frequently-Asked Questions
There are several savings techniques permitted by states to lower your unemployment tax rates. Account Audits, Voluntary Contributions, Joint Accounting, and Tax Planning for Mergers and Acquisitions (M&A) Events will be analyzed for every entity and throughout the year. All efforts are made to maximize savings and minimize cost.
There are 11 states that permit Joint Accounting, which is the combining of rating experience of commonly-owned entities. Voluntary Contributions, the process of paying into your reserve balance to move to a more favorable rating calculation, are allowed in 26 states. It is similar to buying points on your mortgage.
Yes. We can provide tax-rate forecasts for each active entity for the following year. We use all information available to give you an educated forecast of where your tax rate is headed next year. Utilizing the most up-to-date state legislation and your entities prior year's tax-rating experience, we project your tax cost.
Yes. This is where proper unemployment tax planning is crucial. We can advise during the entire process and project the unemployment cost associate with the acquisition. We will analyze the type of transfer, asset or stock, and assure you are 100% compliant during the entire process. After reviewing the cost and ensuring compliance, we will secure any possible savings that may be available during the M&A event. This is where our expertise will provide a bottom-line value to the client.
You will have a dedicated account team that will be available 24/7. The team will be led by your Account Executive (AE) who is the overall relationship lead and your single point of contact. All discussions and questions can begin with your Account Executive. Your AE is supported by our Tax Director, Assistant Tax Director, and your lead tax analyst.