Sales Tax Audit
Because of an increased probability of businesses being subject to an audit and 60% of the audits result in deficiency assessment businesses may consider a Review of their potential Sales Tax liability.
We perform the below procedures for the review:
- Review record keeping and accounting methods.
- Review taxability issues related to the goods and services that are sold or purchased.
- Review of Sales Tax Return preparation process.
- Apply sample and estimation procedures as used by the State Auditors.
- Recommend changes, if applicable, to procedures in place.
- Estimate potential sales tax liability exposure as a result of a Review.
Above list is not all inclusive of procedures which will be followed. The procedures will vary based on individual case by case.