NTCI Introduces Sales & Use Tax Consulting Practice

NTCI is delighted to announce the launch of our Sales and Use Tax Consulting practice, headed by George Kohn with more than 25 years of industry experience.   To learn more about George click here.

Our services are designed not only to find ways to obtain refunds on past overpayments, but also to identify and implement strategies to reduce ongoing and future tax liabilities.  Some real-life examples of how savings have been generated include:

  • $5 million in savings by issuing resale certificates to suppliers for equipment redelivered from a central company distribution center to the  final usage destination, avoiding double taxation
  • $1.2 million sales tax refund for materials distributed out of state
  • $1 million sales tax savings by choosing a state’s direct pay program, with the use tax now being paid on a different allocation basis.

Our core services that produce the kinds of savings opportunities as described above are divided into 5 areas:

  • Reverse audits and refund analysis:  These services include the traditional audit of past payments to find payments made in error or overpayments.  But, we also add value by suggesting strategies to ensure future reductions in tax liabilities, as well as offering training to client staff to be able to self-identify future opportunities to minimize tax assessments.
  • Audit Management:  If you are subject to an audit, NTCI can represent you and manage your interests throughout the entire process.  In conjunction with that audit, or as a separate service in the later stages of an audit, we can conduct a thorough evaluation of the audit papers and provide the taxing authority with any available documentation that provides support for reducing the final tax assessments.
  • Nexus Studies for Multi-state Operations:  We perform detailed in-depth studies to insure that you are properly registered with a jurisdiction for the business being conducted, and that you are collecting appropriate tax.  In addition, we can develop tools to manage continued compliance such as Tax Calendars. 
  • Merger and Acquisitions Due Diligence: We can advise and assist in mitigating S&U tax exposure related to impending mergers or acquisitions by identifying potential tax risk areas, reviewing files and records and performing reviews of compliance processes.  Based on our findings, exposures may be quantified and we can assist in determining appropriate reserves.
  • Voluntary Disclosure Agreements:  Sometimes companies find themselves in a position where they believe that they may have inadvertently engaged in activity that may not be in compliance with state law, which could result in sales or use tax exposure.  We can negotiate with the state anonymously to explain your situation and create an environment that minimizes penalties, interest and/or past tax liabilities.

If you would like more information, please contact George Kohn by email: George.Kohn@ntlci.com or phone (718) 938-2273