Imaging Science and Services, Inc.

Managing Sales and Use Tax exemption compliance audits is daunting enough during the best of times. Under current economic conditions, it can be perilous. State auditors are stepping up audits in search of additional sales tax revenue. Corporations are downsizing personnel which means fewer resources that are available for handling sales tax exemption certificates and related state sales tax audits. You need a force multiplier.

Outsourcing sales and use tax exemption certificate compliance is one cost-effective method for offloading the burden of certificate collection, management and audit defense. ISSI and TEAMS Express can provide you with the highest levels of compliance at a much lower cost. Delivered securely across the web from our SAS 70 level II certified hosting facility, we can provide you with more options for handling any or all aspects of exemption certificate management.

For less than the cost of a single accountant per year, you can reduce your sales tax audit risk and significantly increase transaction tax exemption compliance with TEAMS Express.

The powers that be in Tallahassee are considering the potential windfall from a Florida Internet Sales Tax. Couple that with increased state sales tax audits and you have a potentially perfect storm that could significantly increase what your company owes in sales tax. In addition, the state of Hawaii is looking to introduce a sales and use tax bill that could likely encompass Internet businesses by expanding the scope of what it means to engage in business. Certainly, now is the time to consider implementing a comprehensive and cost-effective sales and use tax exemption management system. If you would like to learn more about limiting your risk and exposure to sales tax audits, assessments and penalties, please request our white paper, Exemption Certificate Management Strategies today and protect yourself from the coming sales tax audit storm.

With the financial crisis looming large in corporate America, what is the general thought on sales and use tax exemption compliance? According to a new survey, the majority of corporate managers are expecting to experience some additional sales tax and use tax audit scrutiny because of state and local revenue shortfalls. Strengthening exemption certificate compliance efforts can provide a strong foundational layer upon which corporations can take proactive positions to mitigate audit exposure and risk. Remember, having the correct rates and tax calculations is wonderful, but knowing when and when not to charge sales tax–and being able to prove it when the auditor comes, is something that ought to be on the mind of every CFO, VP of Tax, Audit Director or accounting management responsible for sales and use tax compliance. This is especially true now when state and local tax authorities are going to be prowling for additional revenues to fill tax coffers.

Depending upon where you are located, you might be smiling or you might need a better exemption certificate management solution.

Smilers first.

Georgia Manufacturers should be happy since the state legislature expanded the sales and use tax exemption for machinery and put a cap on sales and use tax for energy consumed during manufacturing.

…and now to the frowns.

California businesses in the 94608 (Emeryville), 95826 (Sacramento), 95110 (San Jose), 91406 (Van Nuys), 90505 (Torrance), 92701 (Santa Ana), and 92570 (Perris) areas will be subject to a new Statewide Compliance and Outreach Program where the state of California is going after uncollected sales and use tax. They plan to ratchet up scrutiny on businesses in these areas hoping to find the $2 billion dollar unreported sales and use tax gap.

Nonprofit groups in New York State will now need to collect sales tax on certain sales, products or services including some online sales. Failure to do so will result in the same sort of penalties that for profit businesses face. Many nonprofits aren’t even aware of this change.

If there ever was a need for a trusted partner for managing sales and use tax exemption certificates, it is now.

Businesses today find that the borders for tax compliance don’t end at the territorial limits of the United States. TEAMS Express and TEAMS Express Use Tax have provided complete exemption form coverage for all of the United States, Canada and Puerto Rico from day 1.

Customers rely on ISSI for Sales and Use Tax Exemption Compliance for all North American Operations and so can you.

As the world of transactional taxation changes, we believe it import to keep our customers informed about interesting developments regarding sales and use tax exemption issues, regulatory change and just plain insight into the dynamics and challenges facing today’s companies.

Please join us in our quest for excellence in exemption compliance excellence.