Businesses face heavy assessments from sales and use tax audits
July 15, 2015
State Departments of Revenue are becoming increasingly aggressive in sales and use tax audits. Businesses of every size are at risk. Why? Simply put, because States are broke. Pursing additional revenue from businesses who improperly pay (or don’t pay) sales and use tax is easy money. As a matter of fact, in a recent survey of 140 executives from Global 2000 companies, 83 percent of them had experienced an increase in the number of audits due to state and local tax revenue shortfalls.
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