Tax Services
Compliance Review
Audit Representation & Defense
Post Audit Challenge
Refund / Reverse Audit
Post Refund Review
Effective Use Tax Rate Agreement
Tax Incentives, Exemptions & Credits
Consulting / Strategic Planning
Pharmaceutical & BioTech Industry Tax Incentives
Sales Tax Help & Use Tax Help
Compliance Review
Taking a proactive approach in handling all of your NJ Sales Tax and Use Tax issues and
responsibilities, prior to having the NJ Division of Taxation knocking on your door, is
certainly your best course of action. New Jersey Sales Tax Consultants (NJSTC) will conduct a review and analysis of your
companies sales, purchases, books & records, internal controls & procedures to test your
firm's compliance with NJ S&UT statutes, regulations and policies. The results of this tax
service may in fact be favorable which should provide a reasonable comfort basis for your
business. However, the service may reveal errors which, if left undetected & uncorrected,
could potentially result in significant financial exposure for your company down the road.
Kindly contact us for a confidential no-obligation consultation.
Audit Representation & Defense
A field audit, as conducted by a State Auditor from the NJ Division of Taxation, can vary
greatly in scope and complexity based upon the nature of your business and the auditor
performing the engagement. You certainly may be able to handle this process internally
however, it's highly recommended that you immediately seek and obtain professional advice
in determining your best course of action as to exactly how you should proceed regarding the
New Jersey Sales Tax Audit.
You may engage NJSTC to represent and defend your company at any time before, during
or after the Audit but again, it's recommended that you contact us upon receipt of the
Division's Audit letter as initial Audit planning procedures can then be timely implemented. These initial procedures, along with numerous other defensive procedures employed during
and after the Audit, will all contribute to the overall success of safeguarding the resources
of your business. Our goal at NJSTC is to provide our clients with the best possible
resolution to the Audit process in the most efficient and effective manner.
Several of the audit considerations and procedures that NJSTC will generally plan for and
conduct during a typical Audit proceeding include the following:
- Respond to the Audit letter and initiate communication with the Auditor
- Determine when and where to conduct the Audit
- Gather and review the appropriate books, records and documents
- Perform initial compliance review procedures
- Prepare for the pre-audit interview and associated questionnaire
- Conduct the Audit process with the Auditor
- Accurately determine what taxes, audit periods and tax returns are statutorily still
eligible and subject to the Audit process
- Determine when and if it is advantageous to sign the Consent Form
- Determine the most advantageous sample periods to test sales and purchases
- Provide the Auditor with the appropriate information requested but only after same
has been thoroughly reviewed
- Review and analyze the Auditor’s workpapers and associated tax assessments for
accuracy, methodology, and correct statutory application of the related laws,
regulations, court cases and Division policies
- Review and evaluate the Auditor's sampling methodology and procedures
- Negotiate selected Audit issues as well as the related tax assessments including
penalty and interest abatements
- Apply reverse audit techniques
- Professionally resolve disputes
- Conduct post audit conferences
- Prepare correspondence
- Plan for and conduct informal meetings with the Auditor's supervisors (when req)
- Plan for and conduct formal conferences and/or appeals (when req)
Please note that at all times NJSTC acts as its client's advocate and will be in constant
communication with its clientele at all points during the Audit process to advise clients on the
Audit's status, answer all questions and to facilitate the completion of the Audit proceeding.
Additionally, please be advised that NJ Sales Tax Consultants will represent your company
for the other taxes applicable during a typical NJ Division of Taxation Audit including, but not
limited to, Corporation Business Tax, Gross Income Tax and Litter Tax. However, this
process may require some assistance from your existing accounting resources.
NJSTC promises that we will provide our best efforts to "Make A Difference" with
respect to our New Jersey Sales Tax Audit Representation & Defense Services!
NJSTC are your local NJ Sales Tax Audit
& NJ Sales Tax Refund Experts
Kindly contact us for a confidential no-obligation consultation.
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Post Audit Challenge
Should you remain dissatisfied with the results of your recently completed Audit as
conducted by the Division of Taxation, NJ Sales Tax Consultants would like to advise
that, under a relatively new law, you now have up to 15 months after the actual Notice
of Final Audit Determination to challenge the New Jersey Sales Tax Audit Assessment.
NJSTC offers this value-added tax service, which is similar to our Reverse Auditing service,
with no direct costs to our clients as the service is performance based.
Why not take full advantage of this "Win-Win" situation and get a "Second Opinion" from
NJSTC who specializes in NJ Sales Tax Audits, NJ Use Tax Audits & NJ Sales Tax
Refunds!
Kindly contact us for a confidential no-obligation consultation.
Refund / Reverse Audit
A historical review of your businesses past purchases may reveal numerous Sales & Use
Tax overpayments for which you may be entitled to a full or partial tax refund. New Jersey
Sales Tax Consultants will provide this performance based service at no direct cost to your
company. Your portion of the proceeds from the New Jersey Sales Tax Refund will go
directly to your firm's bottom line. Additionally, you receive 100% of the future tax
savings resulting from the correction of the past overpayments detected during this process.
Please note that the procedures performed during the New Jersey Sales Tax Refund Service
are very similar to the procedures conducted during a State Audit except that NJSTC is
looking for overpayments while the State Auditor is looking for underpayments. Thus this
process has been termed Reverse Auditing.
NJSTC provides this tax service with very little burden to your company and staff.
Very Important: There is no better time to perform this tax service than when your
business is currently undergoing an Audit or has recently been Audited.
A fully detailed explanation as to why this is true will be provided
upon request.
With virtually nothing to lose and everything to gain, why not take full advantage of this"Win-Win" situation!
NJSTC are your local NJ Sales Tax Audit
& NJ Sales Tax Refund Experts
Kindly contact us for a confidential no-obligation consultation.
Post Refund Review
Numerous and possibly material Sales Tax and Use Tax overpayments may still exist even
if your business has already been through the Refund / Reverse Auditing process.
Please note that there are no limitations on the amount of refund claims that a business
can file. And similar to the refund services as detailed above, NJSTC provides this
service with no direct costs to your firm and with very little administrative burden to your
staff.
Why not take full advantage of this "Win-Win" situation and get a "Second Opinion" from
NJSTC who specializes in NJ Sales Tax Refunds & Reverse Auditing!
Kindly contact us for a confidential no-obligation consultation.
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Effective Use Tax Rate Agreement (EUTRA)
Effective Use Tax Rate Agreements are formal individualized contracts between the NJ
Division of Taxation and the associated business entity. No longer will individuals within your
company have to review each purchase invoice and make hundreds, maybe thousands of
individual tax subjectivity determinations as well as the related Use Tax accruals & payments,
should your firm maintain a Use Tax system or be a Direct Payer (ST-6A).
Some of the benefits provided to businesses accepted into the EUTRA include the following:
- No More Audits as the NJ Division of Taxation agrees to waive its audit rights
- Elimination of virtually all compliance functions with respect to virtually all purchases
that were formerly performed & conducted on a transaction-by-transaction basis
- Freeing up and redirecting of staff due to the fact that now virtually all of the former
S&UT compliance functions are addressed & handled within the EUTRA
- Increase in accuracy of all transactional tax determinations as they are made by
NJ Sales & Use Tax Experts
- Significantly improved consistency and predictability with respect to tax reporting,
budgeting and forecasting
- The development and fostering of a spirit of cooperation between the Division and
the business accepted into the EUTRA program
If accepted into this program there are many other benefits, some being rather substantial,
that are provided to the businesses that are qualified and approved.
Please note that this opportunity is available, for the most part, to large businesses who
have a large volume of business activity (purchases) within the borders of New Jersey.
If you would like more information about this program please contact us and we will
arrange for an initial, confidential and no-obligation consultation that will layout the entire
program, detail our services and answer all of your questions.
Very Important: This is the best and most powerful solution available to large
companies who want to efficiently and effectively manage all of their
NJ Sales Tax & Use Tax responsibilities!
Tax Incentives, Exemptions & Credits
The New Jersey Division of Taxation offers numerous Sales Tax and Use Tax incentives
that if used timely and appropriately, may substantially reduce not only your current tax
liabilities but also your prior periods tax liabilities even though they have already been paid.
Often times these opportunities are overlooked and/or underutilized.
As part of anyone of a number of tax services as provided by NJSTC to its clientele, a
complete review will be conducted to ascertain whether or not your firm is taking full
advantage of the respective tax savings associated with applicable tax incentives, exemptions
and credits that your firm may qualify for under NJ statutes and regulations.
Please note that NJ offers very substantial tax incentives, exemptions and credits for R&D
and Manufacturing with the hopes of attracting, retaining and growing businesses within
certain key industries, especially the PHARMACEUTICAL & BIOTECH industries which NJSTC specializes in.
Kindly contact us for a confidential no-obligation consultation.
Consulting / Strategic Planning
Listed below are just a few of the topics that New Jersey Sales Tax Consultants can
provide consultation services to your business.
- Tax Registration Issues
- Delinquency & Deficiency Issues
- Penalty & Interest Abatements
- Dispute Resolutions
- Private Letter Rulings
- Closing Letter Determinations (similar to offer & compromise)
- Voluntary Disclosure Agreements (anonymous until approved)
- Nexus Reviews
- Urban Enterprise Zone Issues
- Streamlined Sales Tax Issues
- Exemption Certificate Issues
- Contract Review (realty construction, equipment, services & leases)
- Court Case Review and Application
- Direct Pay Permit Program Registration & Issues
- Other Consulting Issues
Kindly contact us for a confidential no-obligation consultation.
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Pharmaceutical & BioTech Industry Tax Incentives
The Pharmaceutical & Biotechnology industries have long been targeted by the State of NJ as
key industries in which the State definitely wants to be a big participant. New Jersey strongly
encourages companies to not only remain here, but also to expand and grow their respective
businesses within the borders of New Jersey. Additionally, the State actively competes for
out-of-state companies who are in the process of selecting a new state to relocate their
research operations, manufacturing facilities and/or corporate headquarters.
New Jersey provides numerous and rather substantial financial benefits such as Sales
Tax & Use Tax incentives, Corporation Business Tax incentives, Gross Income Tax incentives
and Property Tax incentives to businesses within the Pharmaceutical & Biotechnology
industries.
NJSTC specializes in providing consulting as well as other types of performance based tax
services to businesses within the Pharma & BioTech industries. Some of the primary financial
tax incentives offered by NJ and which NJSTC will provides services for include, but are not
limited to, the following S&UT and NJ Corp Business Tax items:
- Research and development (R&D) Sales Tax & Use Tax exemptions
- Manufacturing Sales Tax & Use Tax exemptions
- Sale of corporate net operating losses for at least 75% of their respective tax values
- Tax credits for R&D expenditures
- Additional tax credits available to pharma, biotech and high-tech companies
- Numerous other tax exemptions & credits are available to businesses within these
industries as well as numerous other industries
Please be advised the State of New Jersey provides an excellent website which describes
some of the available tax incentives as well as a host of other very important information for businesses
already operating in NJ or who are contemplating relocating into NJ. NJSTC strongly
recommends that all interested business people go to the site and explore it thoroughly as
it's that good. Simply click on this link: http://www.state.nj.us/njbusiness/
NJSTC are your local NJ Sales Tax Audit
& NJ Sales Tax Refund Experts
Sales Tax Help & Use Tax Help
NJ Sales Tax Consultants would like to advise all of its potential clients that should you have
a need for just some good old fashion sales tax help regarding a NJ Sales Tax Audit,
NJ Sales Tax Refund or any other NJ Sales & Use Tax matter, simply contact us at your
convenience and we will do our best to provide you with answers to your questions in a
timely fashion.
Kindly contact us for a confidential no-obligation consultation.
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