About the Role We are seeking an experienced and technically sharp Senior Tax Manager to join our in-house tax function at Sherman Capital Markets. This role is the go-to subject matter expert for state and local tax matters across our portfolio of pass-through entities, including partnerships, S-corporations, and alternative investment structures. You will work closely with finance, legal, and business unit leaders to manage state tax compliance, minimize exposure, and shape strategy as the business grows and evolves. What You'll Do State & Local Tax Compliance and Reporting Own the state and local income and franchise tax compliance process across a large portfolio of partnerships and S-corporations, including multi-tier fund structures, composite returns, pass-through entity tax returns (PTETs), withholding obligations, and nonresident owner reporting. Manage state-level adjustments and modifications flowing from federal K-1s, including state-specific income sourcing, addbacks, and credits for pass-through investors. Oversee nexus determinations and filing obligations across all entities and jurisdictions, including monitoring new exposure from fund activity, portfolio company transactions, or structural changes. Coordinate with fund administrators, outside preparers, and internal accounting teams to ensure accurate and timely state filings. Planning and Strategy Identify and execute state tax planning opportunities specific to private equity fund structures and alternative investment vehicles, including income sourcing for management fees and investment income. Advise on the state tax implications of new fund launches, portfolio company acquisitions, and exit transactions — particularly the pass-through treatment of income, gain, and loss at the state level. Evaluate apportionment methodologies (market-based sourcing, cost-of-performance, throwback/throwout) across key jurisdictions and recommend defensible positions. Partner with legal and structuring teams on fund formation, blocker structures, portfolio company restructurings, and M&A activity from a SALT perspective. Controversy and Risk Management Lead state tax audits across fund and portfolio entities, including managing document requests, drafting protest letters, and coordinating with outside counsel where appropriate. Monitor legislative and regulatory developments — particularly around pass-through entity taxes (PTETs), composite filing rules, and state-level partnership audit regimes — and assess impact on the business. Maintain and update state tax positions, policies, and documentation standards across the entity portfolio. Cross-Functional Partnership Collaborate with federal tax, legal, and accounting teams to ensure alignment on state tax positions and partner reporting. Support partner-facing tax deliverables, including state tax information for K-1 packages, PTET credit reporting, and queries related to state filing obligations. Advise deal teams and business stakeholders on state tax implications of new investments, fund structures, and operational changes. What We're Looking For Experience & Background 7+ years of state and local tax experience, with substantial focus on partnerships, S-corporations, and pass-through structures in private equity or alternative investments (buyout, growth equity, real estate, credit, hedge funds, or similar). Prior experience in a Big 4 or large regional public accounting firm, with in-house experience at a private equity firm or fund manager a strong plus. CPA or JD required, LLM a plus. Technical Skills Deep knowledge of state income and franchise tax as applied to pass-through entities, including composite returns, withholding regimes, tiered partnership and fund structures, and PTET elections. Familiarity with state-specific sourcing rules for financial products, investment income, and management fee income. Experience managing multi-state K-1 reporting and partner-level state tax obligations for high-net-worth individuals and trusts Working knowledge of state partnership audit rules and their interaction with federal BBA audit procedures. Soft Skills & Leadership Ability to manage multiple priorities and deadlines across a large, complex entity portfolio. Strong written and verbal communication skills, with the ability to translate complex tax issues for non-tax audiences. Comfortable operating independently while knowing when to escalate or bring in outside resources. Collaborative and relationship-oriented; able to build trust across functions and levels. Why Join Us High-visibility role with direct exposure to senior leadership and strategic decisions. Opportunity to shape and build out the SALT function in a dynamic, growing organization. Competitive compensation, bonus, and benefits package

Pay:

$215,000.00 - $245,000.00 per year

Benefits:

401(k) 401(k) matching Dental insurance Disability insurance Employee assistance program Employee discount Flexible spending account Food provided Health insurance Health savings account Life insurance Paid time off Vision insurance Application Question(s): Explain your experience with partnerships, S-corporations, and pass-through structures in private equity or alternative investments (buyout, growth equity, real estate, credit, hedge funds, or similar).

Experience:

State and Local Tax:

10 years (Required)

Work Location:

In person