Tax planning and preparation form a winning combination for our successful individual and business clients. Whether you are an individual, C-corp, S-corp or a multi-tiered partnership, our experienced staff can develop tax strategies that take advantage of new tax laws and legislation.
We are not content to be “merely” tax return preparers. Wegmann Dazet’s proactive approach and knowledge of changing tax law will translate into strategies designed to keep your tax burden low. With timely meetings throughout the year, our professionals will help keep you on a prepared course. Let us plan with you to make the tax burden as painless as possible.
Sales and Use Tax – Compliance and Audits
It’s a dreaded call: a local, parish/county or state taxing authority is coming to audit you. Have you been properly remitting taxes due to them? With many states and municipalities under budgetary pressure, their audits of businesses search for both missed remittances and the penalties and interest that go with underpayment.
At Wegmann Dazet, we proactively can assist you in reducing the risk related to a sales tax audit, by reviewing your tax liabilities, records, controls and payments.
Wegmann Dazet’s sales tax business advisors can help you understand, and plan for, changing sales tax laws and regulations. Our experienced team is happy to assist you in:
- Identifying and testing for compliance risk and potential liability;
- Evaluating the design and operation of the sales tax process and controls for ongoing transactions;
- Assisting you while a sales tax audit is in place;
- Handling disputes with the auditors if potential liability is discovered;
- Litigation support, in the event an audit goes to court; and
- Filing and reporting sales tax returns on a monthly basis.
State, Municipal & Multi-state Taxation
Successful organizations are those that manage and plan for every cost. Wegmann Dazet’s multi-state tax professionals can help clients identify, plan, implement and manage innovative programs to help minimize state and local taxes in the following areas:
Income and Franchise Tax
Sales and Use Tax
Tax Incentives – Credits and Abatements
Specific areas where our state and local tax professionals can assist clients include:
- Comprehensive reviews of state and local tax liabilities and identification of potential tax minimization and refund opportunities
- Review of state tax implications of proposed mergers and acquisitions
- Assistance with state and local tax audits
- Preparation of multi-state nexus studies
- Reverse sales tax audits
- Negotiation of voluntary disclosure agreements
- Development of sales and use tax process
- Assistance with unclaimed property voluntary disclosure agreements
Tax Credits and Incentives
Louisiana offers lucrative credits to businesses in the state. Take advantage of our tax professionals’ keen focus on maximizing these benefits. From R&D credits to Digital Media Credits to hiring credits and sales tax rebates for expanding your staff, Wegmann Dazet can assist in capturing the maximum benefit available. Look through these tax credit options and schedule a meeting with our team.
- Louisiana FastStartThis program provides workforce recruitment, screening and training to new and expanding Louisiana companies at no cost. Louisiana Economic Development FastStart “ranks as No. 1 state workforce training program.”
- Angel Investor Tax CreditTake advantage of up to a 25% tax credit for individual investors who invest in early stage, wealth-creating Louisiana businesses.
- Digital Media and Software IncentiveThis program provides up to a 25% tax credit on payroll in Louisiana and 18 % tax credit for qualified production expenses. Credits are refundable.
- Enterprise ZoneThis jobs incentive program offers a $3,500 or $1,000 tax credit for each net new job created in the state. And it offers either a sales/use tax rebate on capital expenditures or a 1.5% refundable investment tax credit for qualified investment.
- Entertainment Job CreationAre you a qualified entertainment company? Get a tax credit of 15% or 20% on annual wages, when you create five qualified net new jobs for Louisiana residents.
- Industrial Tax ExemptionManufacturers, or businesses related to a manufacturing project, may qualify for an 80% property tax abatement for up to 5 years (with an option to renew) on qualifying capital investment in the state.
- Live Performance Tax CreditThis program provides a tax credit up to 25% on certified musical and theatrical production expenditures, with additional tax credits available for payroll for Louisiana residents. There is a one-time transferable or refundable option.
- Motion Picture Industry Development Tax CreditMotion picture productions may be eligible for a transferable tax credit of up to 40% for qualified in-state production expenditures, including labor expenditures in and out of state.
- Music Job CreationThis program offers a 10% or 15% tax credit on annual wages to qualified music industry-related companies that create well-paid jobs for Louisiana residents.
- Opportunity ZonesThis federal capital gains tax incentive program is designed to drive long-term investments to low-income communities. There are 150 census tracts in Louisiana that are qualified opportunity zones.
- Quality JobsCompanies that create well-paid jobs in Louisiana may qualify for up to 6% cash rebate on annual payroll expenses for up to 10 years, as well as either a sales/use tax rebate on capital expenditures or a 1.5% project facility expense rebate on capital investment.
- Research & Development Tax CreditA tax credit, for income or franchise taxes, up to 30% is available to existing businesses in Louisiana to establish or continue research and development activities within the state. Credits are transferable and refundable.
- Restoration Tax AbatementIf you rehabilitate an existing structure in qualifying locations in the state, you may be eligible for up to ten years of 100% property tax abatement.
- Sound Recording Investor Tax CreditThis program provides a 18% tax credit rebate for qualified production expenditures on sound recording projects in Louisiana.