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REGISTER HERESales & Use Tax Returns
September 21, 2012 / Ed Jameson / Blog Posts
As we come to the end of the year, research and development companies should consider filing a sales and use tax return even though no amounts may be due. Purchases made by these companies may be exempt from sales and use tax because of research and development exemptions or because you are buying materials that are directly charged to government contracts. Just because there are no amounts due doesn’t mean you shouldn’t file the return. Filing a sales and use tax return starts the statute of limitations and reduces the amount of information a government agency may ask to see if you are chosen for audit. By not filing the returns, the amount of years a government auditor may look at is unlimited.
–Brian LaCroix, CPA
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Ed Jameson, CPA, Managing Partner
I’ve been in practice for over 40 years helping our small business clients procure, manage, and survive audits on more than $6 billion in federal government contract and grant funding. We’ve been featured presenters and panel moderators at Tech Connect’s National SBIR/STTR conferences since 2010, and I’ve presented at the DOD’s Mentor Protégé Summit and present regularly for several state and local organizations.
