State and Local Tax
Overview
Crowell & Moring provides state and local tax (SALT) advice and representation to large corporations and emerging businesses across the nation. Our lawyers assist with planning and transactional matters, day-to-day consulting, sales & use tax matters, tax credits and incentives, audit defense, administrative and judicial appeals, refund claims, and settlement negotiations among other issues. Our state tax clients include companies across the industry spectrum, including retailers and manufacturers, providers of digital goods, service providers, and financial service institutions. We are particularly well-known for our work with business aviation providers.
Contact
Insights
Client Alert | 7 min read | 11.07.22
Choice of Entity for the Startup Business
While forming a new entity is generally quite easy, corporate structure and tax considerations play a fundamental role in a startup’s ability to raise capital. Prospective investors have expectations for how a “venture backable” business (i.e., a business with the potential to generate significant returns with a potentially high valuation) is to be organized under state law and classified for income tax purposes. However, the fundamental question for founders is: what actually makes the most sense for the business? Here we briefly discuss four structures for forming a new business and their tax classifications: (1) a state law corporation classified as a C corporation; (2) a state law corporation classified as an S corporation; (3) a limited liability company (“LLC”) classified as either a C corporation or an S corporation; and (4) an LLC classified as a sole proprietorship or partnership.
Client Alert | 3 min read | 02.19.21
Maryland's Digital Advertising Tax: A Contentious Start, and an Uncertain Future
Event | 09.29.16 - 09.30.16
Event | 04.19.16
Professionals
Insights
Client Alert | 7 min read | 11.07.22
Choice of Entity for the Startup Business
While forming a new entity is generally quite easy, corporate structure and tax considerations play a fundamental role in a startup’s ability to raise capital. Prospective investors have expectations for how a “venture backable” business (i.e., a business with the potential to generate significant returns with a potentially high valuation) is to be organized under state law and classified for income tax purposes. However, the fundamental question for founders is: what actually makes the most sense for the business? Here we briefly discuss four structures for forming a new business and their tax classifications: (1) a state law corporation classified as a C corporation; (2) a state law corporation classified as an S corporation; (3) a limited liability company (“LLC”) classified as either a C corporation or an S corporation; and (4) an LLC classified as a sole proprietorship or partnership.
Client Alert | 3 min read | 02.19.21
Maryland's Digital Advertising Tax: A Contentious Start, and an Uncertain Future
Event | 09.29.16 - 09.30.16
Event | 04.19.16
