|
Often times, companies may pay tax on a purchase as a default
position in order to limit potential tax exposures. This is
especially true if a company has received a large sales or state
tax assessment in the past. By taking this approach a company
may pay large amounts of unnecessary taxes, often 5-8% of their
purchase costs, or they may charge tax on their sales.
A sales and use tax reverse audit will provide the opportunity
to gain refunds and or/reduce audit assessments through a review
of purchase and sales transactions. By analyzing your companies
fixed asset and expense item purchases we are able to identify
purchases in which your company has inadvertently paid sales/use
tax on exempt or non-taxable transactions.
Benefits
- Sales and use tax refunds
- Return on investment of 2 times our fee
- If no refunds are found, you generally are not charged
- Increase communication and procedures between the purchasing
department and the tax department
|
