Banking, Financial Services & Trading

The SALT team represents some of the largest multistate and multinational financial institutions for state and local taxes. Issues we address for financial institutions include:

  • Nexus issues related to economic presence
  • Nexus issues unique to the industry such as the presence of  foreclosed property in the jurisdiction or the presence of credit card holders in a state
  • Apportionment issues including the sourcing rules for credit card income, interest income and alternative apportionment approaches for financial institutions and brokers
  • The composition of the unitary group including whether financial institutions may be included with non-financial companies
  • Addressing issues associated with the ownership of captive REITS


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