Thompson Tax is your trusted tax expert. Operating worldwide with locations across the United States, we offer various consulting services aimed at helping you better navigate the ever-changing world of sales and use tax laws and regulations. Let us do the heavy lifting. We will analyze your specific circumstances and provide you with solutions that will allow you to make informed decisions regarding your business.
Let Thompson Tax Lead The Way
Whether you are expanding into new markets and are unfamiliar with multistate sales and use tax laws, you received a letter outlining an audit, or you are unsure of whether you need to pay sales and use tax, we can ease your burden.
Thompson Tax is a one-stop shop when it comes to sales and use tax consulting services. We are experts in our field and will guide you every step of the way.
Let us be your trusted tax advisor.
Our Consulting Services
It is easy to become confused when dealing with sales and use tax, particularly when dealing with an overwhelming number of different state and jurisdictional requirements. Thompson Tax can help you determine where and when you need to register and whether your products and services are subject to sales and use tax by providing you with the following nexus and taxability services:
- Identifying nexus-creating activities
- Assessing physical and economic nexus exposures and risks
- Clarifying and breaking down ever-changing legislative definitions to determine taxability
As with any business deal, M&As require careful planning and due diligence, particularly on the acquirer’s side. By thoroughly looking into both companies and understanding the tax profiles of each, you can save yourself a lot of time, money, and headaches.
When preparing for a merger or acquisition, rely on Thompson Tax. We will help you by utilizing our two-step process:
Part I: Know the Deal
- What does the Buy/Sell Agreement look like?
- Determine the type of entities involved and the type of deal (Stock, Asset)
- Are all Parties aware of Successor and Predecessor Liabilities?
- Requirements may include specific notifications, closeout documents, and closeout audits
- What ERP systems are in use?
- Are the Buyer/Seller using the same ERP? Will a transition to a new system be needed after the transaction is complete?
Part II: State and Local Tax (SALT), including Sales and Use Tax Risk Analysis and other Tax Considerations
- State and Local Tax Nexus; Physical Presence & Economic Nexus Post-Wayfair and Marketplace positions
- Taxability of Products and Services (e.g., Resale and Exemption Certificates)
- Current Filing Calendar Position (e.g., Data Reports, Tax Calendar, Historic Returns)
- History of Prior Audits and Notifications (Private Letter Rulings, Audit Working Papers)
- Documentation, Documentation, Documentation! (Location of returns, files, storage, etc.)
SALT = Income Tax, Franchise Tax, Gross Receipts Tax, Capital Stock Tax, Sales & Use Tax, Property Tax, Credits & Incentives, Real Estate Transfer Tax, City Business Licenses, clawbacks, and more, but don’t panic; we are here to help!
We specialize in California audits at Thompson Tax and have a former BOE (now CDTFA) Director on staff. This means that you will benefit from expert advice and seasoned tax consultants.
Our sales tax experts can help you with the following:
- Determining your open look-back periods
- Evaluating how far back an audit can reach
- Preparing for upcoming audits
- Assisting with responding to audit notices
- Coordinating managed audits
- Conducting reverse audits to determine prospective sales and use tax overpayments and to maximize your refund
Our additional tax consulting services include:
- Analysis of state amnesty benefits to determine if your company qualifies or if you can take advantage of offered programs
- Determining VAT collection if you are selling outside of the United States
- Assisting with Voluntary Disclosure Agreements (VDAs) to minimize penalties when sales and use taxes were not paid when they should have been
- Exemption certificate review
If you do not see the service you are looking for, please ask. We are here to help!
Why Choose Thompson Tax?
- We are a trusted sales and use tax consulting firm that has been in business for 20+ years
- We offer a hands-on personal experience tailored to your specific business needs
- Our knowledge and expertise go beyond U.S. sales and use tax, so you can continue to count on us as your business globalizes.
Ready to benefit from our sales tax consulting services?