According to the United States Census Bureau roughly 33% of state revenue is collected from sales and use tax. With states and local jurisdictions strapped for cash, government revenue departments are increasing tax rates, expanding the definition of taxable products, reducing Nexus requirements and conducting additional audits to collect every possible revenue dollar. Companies of all sizes are subject to sales and use taxes imposed by a wide range of state and local jurisdictions. The administrative burdens of Nexus, taxability and filing requirements can be a challenge to any organization.
It is estimated that the cost of compliance for businesses with sales in the range of $1M to $10M is about .4% of those sales. Although the cost of compliance is expensive, we are learning that the cost of non compliance is far greater.
Our sales and use tax process review is an analytical and detailed approach which translates sales and use tax compliance issues into business process improvements.
Process Review Services Include:
- Identify weaknesses
- Measure the level of accuracy
- Assess internal controls
- Identify areas of over/underpayments
- Sales and use tax automation
- Sales and use tax outsourcing
- Audit defense and negotiations with the states
- Bad debt sales tax recovery - recoup tax liabilities incurred from bad debts
- Reverse sales and use tax audits - analyze past return filings to determine whether you have significantly overpaid sales and use taxes and file for refund opportunities
We understand and have expertise in sales and use tax in all fifty states and our sales and use tax projects pay for themselves.
We are creative thinkers who grasp the big picture, helping you initiate and accelerate productive change.