Tax

1.

How do I know when I owe state sales tax?

As soon as your business establishes nexus with a state you become liable for sales tax payments to that state. Nexus can be physical or economic. Examples actions that can establish physical nexus with a state include hiring team members in that state, opening offices, using fulfillment centers or data centers. Economic nexus can be established by triggers like total revenue or number of transactions in a state. The best way to be sure about our state sales tax liabilities is to contact Burkland’s tax team for a Nexus Study.

2.

Does my startup need to file taxes if we didn't generate revenue?

Yes, if your startup is a C Corp or an S Corp you are required to file business taxes even if you didn’t generate revenue.

3.

How do I know if my startup qualifies for R&D tax credit?

The Research and Experimentation Tax Credit, (R&D Tax Credit), allows companies to deduct expenses directly related to research and development. If your startup qualifies for the R&D tax credit, you may be able to deduct up to $500,000/year in R&D expenses from your payroll tax or income tax. You can use Burkland’s R&D Tax Credit Calculator to see how much credit your startup could qualify for, and contact our tax team to request a consultation.