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.
Never content to merely be return preparers, Wegmann Dazet’s proactive approach and knowledge of constantly changing tax law will translate into strategies designed to keep the your tax burden low. With timely meetings throughout the year, our professionals will help you enact strategies that will 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 call you always dread. A local, parish/county or state taxing authority would like to visit to see if you have been fairly remitting taxes due to them. With states and municipalities under constantly increasing budgetary pressure, many are now resorting to expanding their audits of businesses looking not only for missed remittances but also for the opportunity to apply penalties and interest.
At Wegmann Dazet, we would like to proactively assist you in minimizing the risk of these onerous charges by reviewing your tax liabilities, records, controls and payments.
Wegmann Dazet’s sales tax business advisors can help you develop a stronger understanding to today’s ever changing sales tax laws and regulations. Our experienced team would like to assist you in:
- Identifying and testing for compliance risk and potential liability;
- Evaluate the design and operation of the sales tax process and controls for ongoing transactions;
- Assist you while a sales tax audit is in place;
- Handle 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 & Multistate Taxation
In today’s business environment, successful organizations are those that manage and plan for every cost. Wegmann Dazet’s state and 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 manuals
- Assistance with unclaimed property voluntary disclosure agreements
Tax Credits and Incentives
Louisiana currently offers credits for businesses that are some of the most lucrative in the country. Fortunate for you, Wegmann Dazet’s tax professional are keenly focused on maximizing these benefits for our clients. From R&D credits to Digital Media Credits to hiring credits and sales tax rebates for expanding your staff, we have the experience to assist you in capturing the maximum benefit available. Look through this menu of credit options and plan time to meet with our team on the application process.
Provides workforce recruitment, screening and training to new and expanding Louisiana companies at no cost.
Angel Investor Tax Credit
Provides up to a 35% tax credit for individual investors who invest in early stage, wealth-creating businesses.
Digital Media and Software Incentive
Provides a 25% tax credit for qualified production expenditures in Louisiana and a 35% tax credit for Louisiana resident labor expenditures. Credits are now refundable.
Economic Development Award Program
Provides funding for site and/or infrastructure improvements for projects creating new jobs.
Provides a $2,500 tax credit for each certified net new job created and either a 4% sales/use tax rebate on capital expenditures or income and franchise tax credits up to 1.5% of investment.
Industrial Tax Exemption
Provides a 100% property tax abatement for up to 10 years on materials used in new manufacturing.
Live Performance Tax Credit
Provides a tax credit up to 25% on qualified production or infrastructure development expenditures, with additional tax credits available for payroll and transportation expenditures.
Modernization Tax Credit
Provides a 5% refundable state tax credit for manufacturers modernizing or upgrading existing facilities in Louisiana.
Motion Picture Industry Development Tax Credit
A transferable tax credit of 30% for qualified motion picture production expenditures and an additional 5% tax credit for Louisiana resident labor expenditures.
New Markets Tax Credit
Investors in qualified projects can obtain a federal income tax credit of 5% to 6% of the amount invested for each year the investment is held, for up to seven years.
Provides up to 6% rebate on annual payroll expenses for up to 10 years and either a 4% sales/use tax rebate on capital expenditures or an investment tax credit equal to 1.5% of qualifying expenses.
Research & Development Tax Credit
Provides a tax credit up to 40% to existing businesses with operating facilities in Louisiana to establish or continue research and development activities within the state. Credits are refundable and can tie to Federal credits for additional benefit.
Restoration Tax Abatement
Provides a five-year 100% property tax abatement for the rehabilitation of an existing structure.
Sound Recording Investor Tax Credit
Provides a 25% refundable tax credit for qualified production expenditures on state-certified sound recording projects.
Technology Commercialization Credit and Jobs Program
Provides a 40% refundable tax credit for companies that invest in the commercialization of Louisiana technology and a 6% payroll rebate for the creation new, direct jobs.