As the current economic climate forces states to be more aggressive in their search for revenue, tax audits are on the rise. Given the complicated nature of state and local income and sales taxes, it’s no surprise many taxpayers live in fear of an audit. Numerous companies have no idea of their exposure until they find themselves sitting across the table from an auditor discussing an assessment.
If you’ve ever worried that your company might one day face a big assessment, you should know there are things you can do right now to evaluate and reduce your company’s exposure in the event of a sales and use tax audit.
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Length: 2 pages (PDF 154 kB)