Manufacturing Tax Exemptions
Most state sales and use tax laws provide specific exemptions for tangible personal property used or consumed in industrial processing or manufacturing. The exemption may include the ingredients and consumable supplies as well as the machinery and equipment, including maintenance and repair parts. Some states exempt engineering, research, quality control, waste removal, packaging, and other ancillary activities. Manufacturers often find it difficult to benefit from the available exemptions because to fully realize the tax savings takes an unusual combination of knowledge of the law and more importantly, knowledge of the manufacturing process. Manufacturing Tax Exemptions
SMART TAX USA researches into the specific state statute providing for the exemption. Because some state statutes are vague, we also research the appropriate rules, regulations, letter rulings and case law. Much of the knowledge in the industrial processing/manufacturing area is so specific that it may not be published. Therefore we have an ongoing dialogue with the state tax authorities as well as our network of tax and legal professionals who specialize in this area. Manufacturing Tax Exemptions
Recovery - Manufacturing Tax Exemptions
Our team includes experienced staff who will liaise with your suppliers to sensitively recover duplicate payments. We would ordinarily operate as a division of your organisation i.e. internal audit, purchase audit etc. maximising responses and recoveries on your behalf. At all times we will ensure your relationship with suppliers is not disturbed. After three months, a round-up review will be undertaken to consider reasons for any significant duplicate payments which have not been recovered. Thereafter, we will produce a final report summarising our findings, including duplicate payments identified and recovered, together with other useful data to provide you with other cost-cutting opportunities.
Manufacturing Tax Exemptions - Manufacturing Tax Exemptions
SMART TAX USA - STATE AND LOCAL TAX CONSULTANTS
11816 Inwood Road
Suite 148
Dallas, Texas 75244
Main: 214-500-7056
972-865-6824
F 866-539-7906
Manufacturing Tax Exemptions
• State Tax Audit Defense
• State Manufacturing Exemptions
• Reverse Audits
More than 5,000 U.S. jurisdictions have changed their sales and use tax legislation in the last decade. SMART TAX USA determines how these law changes provide additional exemptions, credits and tax incentives for your company.
•
State Courts are constantly interpreting sales tax laws and regulations. SMART TAX USA deciphers these complex laws and regulations to maximize cost saving benefits.
•
In today’s economy many states are adding additional tax exemptions, credits and tax incentives to create job growth within the manufacturing and industrial spectrum. SMART TAX USA specialized, comprehensive analysis can determine how these new exemptions directly affect your business and could result in a reduction of current and future tax liabilities providing significant tax savings for your business!
•
Profit Recovery with Reverse Audits - Refunds Now - Future Savings. 90% of our audits result in an instant refund and most importantly, significant future savings
CONTACT US:
Please fill out the simple form below, and we will contact you to see how we can help with your situation
