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Indirect Tax - Sales and Use Tax
As states continue to search for new revenue sources to close budget shortfalls, indirect taxes such as sales and use tax tend to be a major focus. The potential liabilities from sales and use tax audits can be substantial, and in result, can materially affect a company's cash flow. HORNE LLP assists companies on sales and use tax matters, including:
Compliance and Consulting - HORNE reviews the company's current sales and use filings, or assists in preparing sales and use filings. In addition, HORNE reviews the company's business operations to determine if different activities or structuring arrangements would provide a more beneficial position for sales and use tax.
Nexus Studies - In a nexus study, HORNE's team reviews the company's business operations and activity to identify the sales and use filing requirements.
Voluntary Disclosures - HORNE facilitates communication with states on an anonymous basis to help resolve prior filing responsibilities thus reducing ongoing tax exposure.
Sales Tax Diagnostic Review - A perform a review of a company's filing procedures and positions by HORNE identifies areas of improvement.
Audit Assistance and Controversy Resolution - HORNE guides companies in the various stages of the sales and use tax audit.
Reverse Sales Tax Audits - HORNE reviews the accounts payable and capital expenditure accounts to determine if proper tax was calculated and paid. If overpayments are discovered, HORNE assists in preparing the necessary paperwork to request a refund or credit.
Training - HORNE develops customized training specific to a company's operation to assist the company's personnel on how they can remain in compliance with sales and use tax requirements.
For more information on HORNE's indirect tax services and sales and use tax, contact State & Local Tax Director David Stevens at 601.326.1032 or email him at david.stevens@horne-llp.com to learn more.
