With over 100 years of sales and use tax DOR auditor experience on our team, ThreeFive has the specialization to reduce liability due your corporation after a state audit. It’s best to engage this service when the state contacts you, or right after the preliminary audit report is issued.
Sales and use tax audit activity is on the increase as states look for opportunities to increase revenues.
Opportunity: Corporate accounting is often too understaffed and unprepared to properly handle an audit, including how best to negotiate the audit sample selection and the audit defense. ThreeFive has over 100 cumulative years of State Department of Revenue sales and use tax reverse audits and has successfully performed numerous audit defenses.
Implementation: ThreeFive will work directly with you and the auditor to establish an appropriate, fair and representative audit sample. If required by the auditor, we’ll also assist in pulling and/or copying invoices. This can result in a large savings of corporate staff time.
After the preliminary audit findings are presented by the state, ThreeFive will consider the statutes as they apply toward your business activities. We’ll then prepare understandable audit schedules in defense of the preliminary liability presented by the state, and we’ll negotiate a resolution to the audit.
Result: Our clients typically receive a final audit report from the state with significantly less tax due than the preliminary audit findings. Our fee is based on the savings resulting from the difference between the preliminary state audit schedules to the final state audit report.
Nestled in the heart of the Twin Cities on Lake Calhoun, ThreeFive has fostered a work environment to attract key talent that is second to none in addressing corporate tax benefit opportunities for its clients.