Voluntary Disclosure

Settlement of state tax exposure on beneficial terms to your business

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Voluntary Disclosure

State Voluntary Disclosure programs are an important tool utilized by both taxpayers and states to settle outstanding tax exposures. These programs typically have the following benefits:

Shortened 'lookback' period of 3-4 years
Forgiveness of penalties
Anonymity granted to taxpayers during negotiations
Formal agreement from states absolving taxpayers of exposure from prior periods

Due to state nexus rules, and ease of triggering filing obligations in states, it is common for most companies to have tax risk in states that they aren't currently filing. This makes the Voluntary Disclosure programs extremely beneficial to taxpayers, and should be utilized as a tool to mitigate risk, and to do so on beneficial terms.

Types of Tax Covered:

Income tax
Gross receipts tax
Sales tax
Use tax
Unremitted tax
Employment tax
Other indirect taxes

Why Gray?

Voluntary Disclosure is a primary service offering, and we have executed more than 1,000 Voluntary Disclosure Agreements with states, developing best-in-class processes and personal relationships with state program administrators in the process. This enables our team to offer:

Position of strength in negotiations
Speed in execution
Organized and clear project management processes
Clarity in status
Best-in-class fees

Whether your need has arisen from the ordinary course of business or is transaction-driven, we have advised clients through all types of scenarios, and settled cases on quick and favorable terms, guiding our clients all along the way.

Let us guide you through Voluntary Disclosure!