Are You Aware of Your SALT Liabilities?
Does your company operate in multiple states? If so, there's a good chance that you owe some state and local taxes (SALT) outside your home state. But many small businesses are unaware of their SALT liabilities.
While it's sometimes difficult to determine whether sufficient business activity has taken place in another state to trigger SALT liability, this usually isn't a valid excuse for nonpayment. The penalties for nonpayment can be steep, which makes complying with SALT obligations critical for small businesses....(Read More)