The US has one of the most complex tax systems in the world, with local, state, and federal-level obligations creating significant challenges for overseas companies. Making sense of the administrative process, navigating it, and mitigating the risks involved is a huge task in itself, and pitfalls can be difficult to foresee and hurdle even if you conduct due diligence.
While tax is often confusing, it’s incredibly important in today’s business environment to have a mastery of the processes involved. Here are some tips for getting to grips with tax in the US.
Understanding state and local tax
Foreign enterprises operating in the US often fail to recognize the wide-reaching nature of taxing powers as business activity can trigger state-level and federal taxes, which they may not have much experience with.…Continue reading