PROFESSIONAL SALES AND USE TAX CONSULTING
Managing Sales and Use tax is a complicated process requiring expert knowledge and devoted resources to make sure your business is compliant with all state and local tax mandates.
Discover the many ways you can save on your indirect taxes.
We identify all available exemptions and provide you with the knowledge to educate your staff. In addition, we review for potential exposures to ensure compliance with state and local tax laws, giving you clarity, confidence, and control.
Refund and Exposure Reviews
The Brennan Group identifies all exempt transactions on which sales or use tax was remitted. There are several issues that can impact the taxability of purchases, including specific industry tax laws and regulatory changes, court cases, and letter rulings that many companies are not aware of. This may result in sales and use tax overpayments.
The Brennan Group will identify all exemptions that impact your business. Our experts identify and recover overpayments that go directly back into your business.
At the conclusion of our review, The Brennan Group will provide a Compliance Review Report that details our findings Illustrating exactly “WHAT IS” and “WHAT IS NOT” exempt and how to correct overpayments moving forward so you continue to save in the future.
Analyze accounts payable invoices, sales and use tax returns and reports
Qualify and quantify overpayments and underpayments which fall within the state’s statute of limitations period
Monthly Filing of Sales and Use Tax Returns
1. Ensure Compliance
2. Timely Filings
3. Eliminate Non-Filer Notices and Penalties
Monthly compliance reporting for sales and use taxes is one of those routine tasks that, when done incorrectly, can create material liabilities for your company such as penalties, interest, and loss of timely filing discounts. Conversely, outsourcing the preparation and filing of your sales and use tax returns will eliminate the burden on your staff and bring peace of mind knowing the returns are filed accurately and on time!
Many CEO’s, CFO’s and Controllers believe compliance can be automated with a simple plug-and-play software solution. Unfortunately, there are over 60,000 sales and use tax codes and statutes. Every state is different and can make changes on a daily basis. One code or statute could result in a huge overpayment.
We become a valuable extension of your accounting department. Consider your monthly compliance to-do list completed. With The Brennan Group’s team of industry and multistate experts, you will have the knowledge base of ex-auditors and CPAs to rely upon when questions or issues arise.
Nexus Review and Evaluation
State taxing authorities have different requirements and thresholds to determine whether out-of-state businesses have enough in-state activity to trigger nexus. This is determined through physical presence or sales into a particular state.
The purpose of the Nexus Review is to determine if your company has a presence in a particular state which creates a requirement to register, file, and remit sales & use tax.
Our review is designed to determine if an auditor has assessed tax on any nontaxable transactions by reviewing all audit work papers and data the auditor used in calculating your assessment.
We consider all statutes, regulations, letter rulings, and court cases to determine the legitimacy of the auditor’s claims. If we determine the auditor’s assessment is in error TBG will assemble a defense to reverse the auditor’s assessment. We also work to offset assessments through identified overpayments.
Consulting & Special Projects
If you’re starting a new business, or expanding into new products, services, or states, you need expert advice on taxability requirements. Our consulting services provide the answers you need to be in compliance in any new venture you undertake. Many businesses who are expanding quickly need assistance registering their business in a new taxing jurisdiction, and completing exemption certificates for non-taxable purchases and sales. TBG can back-office these one-time projects, freeing up your staff during this busy time. TBG also provides Letter Ruling Request Preparation and Voluntary Disclosure services. If it’s a sales and use tax question, The Brennan Group is the answer.