Sales & Use Tax
In today's economy, companies are constantly searching for ways to increase their bottom line by reducing expenses. One area often overlooked is the area of sales tax. Many states provide sales tax exemptions specific to the oil and gas industry. Failure to take advantage of all available exemptions not only has an effect on expenses but ultimately inhibits your ability to compete. A detailed review of your expenses and capital purchases can identify areas of possible savings and verification that sales taxes are being charged correctly. Upon completion of our review, we will discuss all of our findings in order to provide you with planning opportunities. Many states provide an extended period to recover sales tax paid in error and offer refunds with interest. So it's not too late.
Our professional staff brings value to your company through the following services:
- Detailed or sample review of vendor purchases for overpayment of sales tax covering all available statute periods with minimal disruption to your staff.
- File refund request with the state or vendor for overpaid taxes.
- Identify areas of sales tax underpayment for proper accounting and correction.
- Provide audit representation and defense to assist you through the difficult audit process.
- File administrative appeals on unresolved issues relating to audits or refunds.
- Provide tax research and consulting services on an as-needed basis.