State Sales Tax
Do you pay state sales tax?
If so, then you are a good candidate for a sales tax refund review. We will help you pay only what you should. While taxing authorities allow for exemptions for many purchases related to manufacturing activities, the complexity of laws and operational challenges often results in companies significantly overpaying sales tax.
Our refund review is focused on recovering sales and use tax overpayments and most importantly, helping you improve future compliance. We can perform a comprehensive review and analysis of your company’s sales and use tax transactions and processes.
We work with you to implement policies and procedures on a go-forward basis, and look for sales and use tax planning ideas that lead to an increase in cash flow and reduction of operational costs.
Identify Overpayments, Obtain Refunds
We perform all the fieldwork to recover sales tax overpayments. We review your accounts payable, review your manufacturing processes, and verify business activities to identify all purchases that qualify for a sales tax exemption and refund. We prepare all refund related documents filed with suppliers or tax authorities. We monitor the progress of refunds and minimize the impact of a refund review on your operations.
Improving the Future
Our professionals help inform your staff on sales and use tax issues in the areas that are most important to your business. They will help you learn from the sales and use tax refund review by showing you exemptions missed and answering questions important to your business.
Who Should Do a Review?
Manufacturing and high tech/growth industries;Companies who purchase large amounts of property for their own use in manufacturing, shipping, hospitality & service enterprises; Any company previously audited or currently slated to undergo a sales/use tax audit.
Although specific manufacturing exemptions significantly vary by state, common exemptions include:
- Manufacturing equipment;
- Manufacturing related purchases (repair parts, tools, molds, dies);
- Ingredients and components (raw materials, catalysts, cleaners, fuel);
- Packaging materials.
State Incentive Programs
Are you maximizing your use of State specific incentives to help your business?
Whether you are making a significant investment to grow your business, or planning to move your operations and facilities, contact us first to help understand the opportunities available through State based incentive programs. Our seasoned experts have worked with large and small companies across the country, and they maintain working relationships with state taxing and economic development agencies.
We look at the following areas to determine programs that will maximize your benefits
- Business Expansion & Acquisitions
- Business Relocation
- Employee Hiring , Training, and Development
- Equipment Purchase
Contact us today to set up a no risk evaluation of your current status and future plans.