Manufacturing
State and Local Tax Services for Manufacturing
There are a lot of moving parts when it comes to managing state and local taxes for manufacturing businesses, especially if you are manufacturing in multiple states. We know how hard it can be for internal accounting teams to keep up with changing laws and an evolving business. As your bolt-on indirect tax department, we help you get your taxes right, reduce the risk of an audit, and maximize your bottom line by ensuring you are not paying more than you should.
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“We hesitated because we assumed that our taxed purchases were so minuscule that we wouldn’t find enough mistakenly taxed expenditures to justify the hassle. What we found was that there was NO hassle. We simply gave The Brennan Group a green light and they came back to notify us of refunds coming back from our suppliers. The service is very professional and absolutely worthwhile.”
Sales & Use Tax
Sales and use tax for manufacturing is complicated and becomes infinitely more complex when you have multiple locations and are shipping and receiving across state lines. As your bolt-on department for indirect taxes, we help you stay compliant in all localities where you have nexus and ensure you’re taking advantage of all exemptions you’re eligible for, including packaging, R&D, utility exemptions, and more.
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Personal Property Tax
How you’re using your manufacturing equipment and industry challenges at large can impact the value of your personal property. Our certified equipment appraisers can help you make sure that you’re reporting your personal property accurately and not overstating the value of those assets. We help you by doing a fixed asset inventory, making you aware of all the exemptions available, and ensuring that the county depreciation schedules accurately reflect the value of your assets. We work directly with local assessors to ensure your assets are classified correctly and determine the true value of those assets for property tax purposes.
Learn more about Best Practices for Asset Reporting and Exemption.
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Real Estate Tax
Most manufacturing facilities are specific-use properties, which have a high degree of obsolescence local assessors are not always aware of and factor in that obsolescence when assessing your property which has a big impact on your real estate taxes. In most cases, their value doesn’t match the true market value of your facility. By conducting a thorough property review and working through the appeal process, we educate the assessor and justify a reduced assessed valuation which will reduce your real estate tax liability.
Learn More About Real Estate Tax
Take the First Step to Simplify Your Business’s State and Local Taxes
Schedule a call with a manufacturing expert to discuss your state and local taxes, and explore how we can help you get them right, get them under control, and create more value for your business.
