A Reverse Sales Tax Audit May Generate Big Refunds

What is a Reverse Sales Tax Audit? When a state taxing authority audits a business, they look for sales where tax is NOT being paid. In a Reverse Sales Tax Audit, CLA does just the opposite. We look for sales where your company IS paying tax. We then ensure that tax should be paid on those sales. We also determine if the sales qualify for a sales tax exemption. A claim is then filed with the state taxing authority for a refund of any excess sales tax paid.

What is the best timing?

The best time to consider a reverse sales tax audit is now. You may have just been notified that your company is being audited by one or more states for sales tax. Or you may just be concerned that you are paying too much in sales tax. The statute of limitations runs every month for this tax, so act now to ensure you are only paying your fair share.

There are several sales tax incentives for manufacturers. If your company is paying sales tax, you may have an opportunity for a refund. Click below and join Susan Roberts and Rance Morton as they discuss how this lucrative program might help you.