The scary part of an audit is the fear of the unknown. Businesses are not comfortable with sales and use tax requirements because the law is complex and it is difficult to know what is required. And the worst time to find out what you should have been doing is during an audit by the State.

The best way to ensure you are remitting the proper tax and keeping the necessary records is with a compliance assessment. A compliance assessment reviews common areas a State auditor will look at to ensure you are paying the correct amount of tax owed and that the proper documentation is maintained to substantiate what is reported on the returns. It also ensures that you are not creating red flags by your actions to cause an audit.

The Tax Advisory Network’s Sales & Use Tax Compliance Assessment is a flat fee of $1,000, takes less than a day to complete, and includes a review of the following:

  • Past returns (previous reporting issues)
  • Policies and procedures
  • Sales
  • Exemption certificates
  • Purchases

The review is done with you and your staff so that you have a chance to understand what an audit would be and how to navigate it. Throughout the process, you will have the opportunity to ask questions and gain insight into the assessment process.

After the review is complete, a summary report is provided to you. A list of action items is provided in the order of priority. The summary report provides a clear path forward for you to resolve any discrepancies prior to an audit by the State.

If you would like additional assistance after the compliance assessment is completed, the Tax Advisory Network can assist with staff training and implementation of suggested changes for an additional fee.

Complete the Sales & Use Tax Risk Scorecard to find out your level of risk and schedule a Sales and Use Tax Compliance Assessment before you receive an audit notice from the State.