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 - HiTech & Manuf Tax Incentives
Sales & 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 contact your company, is certainly your best course of action. NJ Sales Tax Consultants will conduct a review and analysis of your companies sales, purchases, books & records, internal controls & procedures to test your firm's compliance with New Jersey sales & use tax statutes, regulations and policies. The results of this tax service may in fact be favorable which should provide your business with a reasonable level of comfort regarding New Jersey sales and use tax compliance. Additionally, the review may reveal that your business has actually overpaid its sales and/or use taxes in which case your company may be entitled to a tax refund. 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 industry your company operates within. 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.

You may engage NJ Sales Tax Consultants 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 company. Our goal at NJ Sales Tax Consultants 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 NJ Sales Tax Consultants 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
• Review and analyze the Consent Form and its related issues
• Determine and select agreed upon sample periods that are reasonable and reflective
• Provide the auditor with the appropriate information requested upon completion of an analysis and review of all documents provided
• Review and evaluate the auditor's sampling methodology and procedures
• 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
• 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 NJ Sales Tax Consultants 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 audits 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 Field 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.

NJ Sales Tax Consultants will develop a customized and dynamic strategy that will not only be very technical and methodical, but will also be creative (thinking out of the box) which will all contribute to the overall success of the engagement. We promise to provide our best efforts to make a difference.

NJ Sales Tax Consultants are your local audit representation & defense specialists.

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. NJ Sales Tax Consultants 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 get a "Second Opinion" from NJ Sales Tax Consultants who specialize in NJ sales tax audits and 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. NJ 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 NJ Sales Tax Consultants is looking for overpayments while the State Auditor is looking for underpayments. Thus this process has been termed reverse auditing.

NJ Sales Tax Consultants provides this tax service with very little administrative 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.

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, NJ Sales Tax Consultants provides this service with no direct costs to your firm and with very little administrative burden to your staff.

Why not get a "Second Opinion" from NJ Sales Tax Consultants who specialize 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 sales and/or use tax subjectivity determinations as well as the related sales tax payments or use tax accruals and payments.

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 sales and use tax compliance functions are addressed & handled within the EUTRA
• Increase in accuracy of all transactional tax determinations as they are made by NJ sales and use tax specialists along with auditors from the NJ Division of Taxation
• 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 & use tax responsibilities!

Tax Incentives, Exemptions & Credits

The New Jersey Division of Taxation offers numerous sales & use tax incentives, exemptions and credits 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 NJ Sales Tax Consultants 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 NJ Sales Tax Consultants specialize in.

Kindly contact us for a confidential no-obligation consultation.

Consulting / Strategic Planning

Listed below are just a few of the topics that NJ 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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Pharma - BioTech - HiTech & Manuf Tax Incentives

The Pharmaceutical, BioTech, HiTech and Manufacturing 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.

NJ Sales Tax Consultants specializes in providing consulting as well as other types of performance based tax services to businesses within these targeted and coveted industries. Some of the primary financial tax incentives offered by NJ and which NJ Sales Tax Consultants will provides services for include, but are not limited to, the following sales and use tax and NJ corporation business tax items:

• Research and development (R&D) sales tax and use tax exemptions
• Manufacturing sales tax and 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, hi-tech and manufacturing 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 two excellent websites which describe 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 New Jersey. NJ Sales Tax Consultants strongly recommends that all interested business people go to these sites and explore both sites thoroughly as they are both that good. Simply click on the links:

http://www.njeda.com/
http://www.nj.gov/njbusiness/

NJ Sales Tax Consultants are your local experts regarding
New Jersey's tax incentives, credits and exemptions.

Sales & 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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