State and local tax laws issued by nearly 10,000 taxing jurisdictions throughout the United States, combined with the threat of regulatory action or consumer litigation, provide a costly, logistical hurdle that can put a company’s profitability and reputation at serious risk. The problem will be magnified if reporting systems are inadequate or companies fail to stay apprised of new laws, regulations, and interpretations everywhere they do business.
To assist corporate clients in this undertaking, we developed the Akerman TaxAbility Matrix, a fully customized and interactive web-based program that identifies applicable tax laws and regulations, and provides a legal interpretation specifically tailored to each client’s distinctive facts and needs. Akerman deploys this tool to companies with multistate operations, such as retailers and auto financing companies, to resolve their challenges in complying with the thousands of differing taxing jurisdictions.