S TAT E TA X B R I E F I N G Buying or selling a business is one of the most significant business steps that business owners will take in their lifetime. In that process, many decisions must be made—often in a very short timeframe. In our recently published guide, “How to Sell Your Company” (available at www.NebraskaStateTax.com), we address a variety of critical steps to be taken to sell a company. An important area that should not be overlooked is the state and local tax and incentive impacts that come into play from buying or selling a business. Failure to consider or plan for these state and local tax and incentive impacts can have significant adverse effects. STATE & LOCAL TAX CONSIDERATIONS FOR BUYING OR SELLING A BUSINESS BY NICK NIEMANN & MATT OTTEMANN, MCGRATH NORTH LAW FIRM Many incentive programs can be carried on by the buyer of a company and allow the buyer access to incentives for the buyer’s continuation of the business activities in a state. I S S U E 3 , 2 0 2 2 10 nebraska cpas
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