NAVIGATING THE TAX MAZE
The myriad of taxes which fall under the transaction tax umbrella include sales, use, gross receipts and excise. They share a common complexity for taxpayers who need to source, collect, remit and determine applicability of their sales and purchases but each is different in the taxable base, rate and administration.
EXPERTS WHO GUIDE COMPANIES THROUGH THE MAZE
Our professionals have extensive experience working with both large and mid-size public and private companies in the state and local tax arena. Several members of our Transaction Tax team have more than 20 years of experience assisting clients with transaction taxes. Our knowledge and experience bring perspective and insight to complex multi-state issues, without losing sight of the detail required to manage transaction tax concerns.
INDUSTRY LEADERSHIP
Our professionals also have significant industry experience, serving clients in a variety of industries including telecommunications, pharmaceuticals, manufacturing, transportation, oil and gas, hospitality, retail, health care and high tech. Our most experienced professionals held corporate tax positions prior to becoming consultants, uniquely positioning us to view opportunities from our clients’ perspectives.
RESULT-ORIENTED FOCUS
We assist clients in managing a complex area of tax by combining deep technical knowledge and a practical real world perspective. We seek an understanding of each client’s business and tailor our services to resolve its unique challenges. The experience of our Transaction Tax team means we understand the background of transaction tax developments and, in many cases, we are taking a leadership role in shaping the evolving transaction tax landscape. This proficiency enables us to evaluate situations and provide tangible solutions.
VARIOUS SOLUTIONS FOR DIVERSE TRANSACTION NEEDS
Our Transaction Tax team focuses on providing advisory and consulting services to assist in the proper collection and remittance of tax to minimize exposure and payment of the tax legally due. Our services include a full complement of transaction tax areas, including:
- Compliance – Prepare, review and submit state sales and use tax returns based on client provided data so that returns are filed and paid on time, decreasing their workload.
- Controversy Representation – Represent clients with state and local tax authorities to resolve issues quickly and efficiently so that they pay only their fair share of tax.
- Recovery of Tax Overpayments from State Tax Authorities and/or Vendors – Review client records to determine if overpayments exist due to law changes, taxability determination errors, and tax department position changes in applying taxes to transactions.
- Research Services – Research unique client product or service offerings or purchases to determine taxability. Conclusions are generally summarized in a taxability matrix, including a written analysis of the pertinent tax statutes, regulations and case law.
- Voluntary Disclosure and Amnesty Agreements – Negotiate voluntary disclosure or amnesty agreements for unintentionally overlooked transaction taxes, generally limiting the look-back period and often penalties are waived.
- Nexus Studies – Obtain an understanding of client activities in non-filing states to determine if a filing requirement exists and assist in quantifying any exposure.
- Tax Process Analysis – Review client transaction tax processes with an eye toward making the processes run efficiently and accurately. Opportunities to use alternate methods of calculating taxes due offered by the states may be presented.
For more information, please contact Patricia Klemz, National Director of Transaction Tax, at pklemz@uhy-us.com, or call 713-407-3786.