When you’re doing business in multiple areas, you’re already juggling a lot. You shouldn’t have to worry about how the sales and use tax rules differ, too.
Sales tax rules vary greatly by state, county, city and special district—and with nearly 10,000 state sales tax jurisdictions, keeping up on the changing laws makes it even more complicated. Let the State and Local Tax (SALT) team at Schenck help you stay in compliance so you can concentrate on growing your business.
Sales and use tax rates and rules—along with exemptions—differ drastically among states and local jurisdictions. As your business grows, you may find it overwhelming to keep up from both a technical and compliance standpoint.
Schenck's SALT team can assist you to ensure you are compliant and following the best path. Take advantage of our specialized expertise to minimize your sales and use tax liability:
- Nexus consulting to establish whether you are subject to another state’s taxes
- Determining your tax liability among different jurisdictions
- Selecting and implementing sales tax management software
- Managing exemption certificates
- Transaction planning
- Identifying sales and use tax liability for drop shipments
- Providing advisory opinions and ruling requests, including obtaining states’ written positions
- Training your personnel involved in sales tax determinations and compliance—or letting the SALT team handle it when your resources are stretched thin
- Reverse audits or sales tax reviews to look for refund opportunities or areas of concern
- Voluntary disclosure guidance to limit exposure when past filing requirements were not submitted
- Managed audits, which are variations of traditional field audits, and some states allow you to play an active role in the audit of your business
- Utility studies to identify available exemptions for certain industries, such as manufacturing and agriculture
- Assistance with audit and appeals defense
- Offers in compromise, penalty abatement and installment plans
Gain peace of mind with a sales and use tax review.
Are you calculating your sales and use tax transactions correctly? Are you increasing your exposure for a potential audit? Contact our SALT team for a review of your procedures. A team member will meet with you to identify any issues, including:
- Key state and local tax issues relating to your specific industry
- Nexus observations to help you understand whether you have a filing requirement in another state
- Sales tax collection and remittance procedures
- Purchasing procedures for sales and use tax concerns
- Review of fixed assets and depreciation schedules for liability exposure
- Reviewing compliance, including policies and procedures
- Assessing internal controls and detecting weaknesses in your current processes
- Optimizing the efficiency of your internal tax resources
- Identifying tax overpayments and determining risk exposure due to tax underpayments