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Most organizations are not taking all the state tax exemptions available to them.
A sales and use tax refund study is a thorough review of organizational expenditures and operations that generally results in cash savings.
Exemptions vary by state and it takes time and resources to keep up with the legislative changes and exemptions that apply to your organization’s activities.
How it works
- Meet with management to understand your organization’s activities and operations
- A review of accounts payable records and invoices to identify sales and use tax overpayments for tax periods already filed and open under state statute
Examples of qualifying purchases:
- Computer software, hardware, and maintenance agreements
- Utilities (electricity, gas, water)
- Telephone and internet charges
- Advertising and marketing costs
- Real property improvements
- Interstate motor carriers
- Contractor services
- Parking services
The study gives us a better understanding of your business operations, which can help bring additional state and local tax savings. It also helps us understand your internal procedures, controls, and systems, so we can give recommendations on operational excellence and compliance.
- A review of filed refund claims to identify additional qualifying purchases and activities
- We identify exposure areas and incorporate exposure liability estimates into the project
- Preparation of all schedules and state refund claim forms
- Optional sales and use tax training tailored to your personnel, industry, and exempt activities
- Fees may be findings-based (contingent) or hourly.
- Findings-based fee structures are permitted in most states for nonprofit audit and single audit clients.
- We will confirm whether the findings-based fee structure is permissible for each state included in the project.
- The contingent rate varies depending on the complexity of the project.