NC COUNTY SALES TAX
REALLOCATION AUDIT

ARE YOU RECEIVING ALL THE SALES TAX
REVENUE DUE YOUR COUNTY?

TRS (Tax Reduction Specialists) is a division of URS.
We specialize in sales tax reallocation audits for NC county
governments.

PROBLEMS WITH SALES TAX REALLOCATION

  • Many non-profits are not filing properly.
  • Most vendors are not compliant with current NC sales tax law.
  • Typically counties are missing sales tax revenue from
    construction projects.

A Sales Tax Reallocation audit is the only way to correct
these problems.
 

 

WHY YOU NEED A SALES TAX REALLOCATION AUDIT

  • Reduced sales tax collections due to economic slowdown.
  • Impact of point of purchase vs. point of destination sales tax receipts.
  • County agencies assume that other agencies and vendors are filing claims correctly.
  • There is no financial incentive for vendors and non-profits to file correctly.
  • Tax refund claims filed by other agencies negatively affect the county's refund.
  • Counties lack the time, staff, and expertise to handle this function internally.
  • New agency and vendor staff are not always properly trained when turnover occurs.
  • If your county does not do this and others do; you stand to lose needed
    tax revenues.

WHAT WE DO

  • Review County non-profit organization records
    -Refund claims
    -Tax filings
    -Vendor files
  • Copy necessary records - we do the work
  • Identify non-compliant vendors as determined from our proprietary database.
  • Provide report of findings to county
  • Submit filings for reallocation including preparation of refund claims.
  • Represent the County in the event the Department of Revenue requires
    additional information before approving reallocation filings.

WHY CHOOSE TRS?

  • New and fresh approach... TRS filed $2.5 million in refund claims in 2002
  • More county refund opportunities with the January 1, 2002 law change
  • County staff does not have time or essential "confidential" information
    necessary to conduct this audit.
  • TRS has a staff of tax professionals.
  • Over 20 years combined experience in NC sales tax auditing
  • A well defined methodology for sales tax recovery under the 2002 tax law
  • TRS proprietary "non-compliant vendor" database
  • 45 NC county sales tax clients since fall 2001
  • Constant communication with the NC Department of Revenue on county sales
    tax issues

We market and provide the service and do not sub contract any of the work.

© 2004 Utilities Reduction Specialists, Inc.

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