Are You Prepared for a Sales Tax Exemption Certificate Audit?
If your business falls into the wholesale/distribution industry when sales tax challenges arise they can have a domino effect of negative consequences on the resellers that you supply.
Are all of your exemption certificates in order for those customers of yours that you supply? Was tax paid for the samples, promotions, and giveaways that you pulled from inventory and if so can you provide legible proof for the amount reported on your sales tax returns? If not, you have just opened the door for a possible audit from your local tax authority which can lead to hefty fees.
The wholesale and distribution industry in particular has its fair share of regulations when it comes to sales and use tax compliance. Not being aware of them all oftentimes leads to costly inaccuracies with your bookkeeping records that will trigger an audit.
If you are overwhelmed by the amount of sales and use tax laws affecting you as a wholesaler/distributor, or if you have already been selected to undergo an exemption certificate audit, you need to connect with a sales tax specialist as soon as possible to get more clarity on your strategic options.
Sign Up For Our Newsletter
Get relevant, timely, and informational newsletters and alerts sent directly to your inbox. This will not be “junk” you don’t need or want, but great information on Sales and Use Tax that you will find helpful. If you don’t like it you will always be able to easily opt out of receiving future newsletters. And, we assure you that we will never sell your email or give it to anyone else. It will only be used in association with our periodic mailings to you.
Check Out Our Seminars and Webinars Pages for Upcoming Events
Don’t forget that if you get audited by the California Department of Tax and Fee Administration you have rights that need to be protected at all times. Make sure you have someone in your corner that knows how to protect these rights and protect you and your company! Sales Tax Specialists, Inc. is that company!