Results of Some Recent SALT Refund Studies
Company & Industry |
Description of Refund |
Amount Recovered |
Software Development Company |
Manufacturer's Sales/Use Tax Exemption; High Tech B&O Tax Credit; and B&O Tax Apportionment |
$105,000 |
High Tech Medical Device Start-up |
Manufacturer's Sales/Use Tax Exemption |
$100,000 |
Software/Hardware Manufacturer |
Manufacturer's Sales/Use Tax Exemption & Personal Property Taxes |
$450,000 |
Professional Services Firm |
B&O Tax Out-of-state Apportionment |
$400,000 |
Freight Transportation Company |
B&O and Sales Tax Interstate Transportation Exemptions |
$275,000 |
Wireless Telecom Device Developer |
Manufacturer's Sales/Use Tax Exemption; B&O High Tech Credit |
$190,000 |
The Refund Study Process
- Designed to identify and recover SALT overpayments (e.g., sales/use, property, B&O, etc.).
- Begins with a preliminary review. May include facility tour and review of a sample of tax returns and transactions (1 - 2 days). Will focus on areas of concern for you.
- Becomes a detailed review if preliminary review justifies it.
- Area of focus: To maximize the benefit of existing tax incentives, exemptions, & credits, such as:
| - Manufacturing Exemptions |
- R&D Credits |
| - Warehousing Exemptions |
- Pollution Control Exemptions |
| - Resale Items |
- Interstate Commerce Exemptions/Deductions |
| - Rural County/Distressed Area Incentives |
- Hiring Credits |
- At conclusion, deliverables will include a findings summary and the prepared and ready-to-file refund claim.
- After claim is filed, process includes ongoing monitoring and response to questions of department personnel.
Flexible Fee Arrangement
- Available on either an hourly or findings-based fee basis, or some combination of both. A findings-based fee is one that is based on the results of judicial proceedings or the findings of a governmental agency, such as a department of revenue.
Summary of Browning's Strengths
- Multistate and multi-tax experience (B&O, sales/use, income/franchise, personal property taxes; all states)
- Relevant industry experience
- Proven track record of success
- Trusted business advisor in community, among peers, and with department of revenue personnel
|
