When consumers purchase goods and services, they pay indirect taxes. Those taxes are collected by intermediaries (i.e., retailers) that have the obligation to report them and bear the associated economic liability. Nearly every industry is affected by indirect taxes.
Compliance requires a meticulous eye and an intimate knowledge of tax regulations across the country. Without that, it can be an expensive and time-consuming function, fraught with the potential for costly errors and penalties. Smith and Howard’s indirect tax group acts as an extension of the corporate tax department of large businesses in every industry and any state, bringing that careful attention and expertise to bear for our clients.
We offer a customized, proprietary tax automation platform that reports and tracks tax collections and compliance in real-time on a state-by-state basis. Our software helps businesses save significant time and money on tax compliance, allowing them to leverage their staff in more productive ways while minimizing the chance of missed or incorrect sales and use tax reporting.
Among the services we provide are:
- Sales and use tax compliance review: working with businesses to determine if services and products are subject to sales tax.
- Transaction tax compliance review: A review of the methods for gathering tax compliance data, the process for accurately migrating that data to a return, an understanding of which returns should be filed and how payments are made.
- Audit defense: assistance with the development of the appropriate posture and strategy for state and local audit defense.
- Outsourced sales and use tax compliance
- Due diligence in business acquisition or sale.
- Review of sales, use and other non-income tax issues, such as employment tax, that are involved in buying or selling a business.
Our team brings a special combination of expertise, multi-state knowledge and energy for this work. Please contact us for questions or a review of your current indirect tax compliance functions.