Is your business paying too much in sales tax? In many venues, products and services purchased as part of a manufacturing or production process aren’t subject to sales tax.
For example, one company found that its propane purchases should have been tax exempt. The correction saved about $5,000 per year.
- Get an opinion. Talk to your trusted tax advisor if the law isn’t clear.
- Contact suppliers. They may offer advice or knowledge and may be able to credit your account. Issue resale certificates to suppliers if neccessary.
For more information about sales tax for your business, please contact us.