MANUFACTURING TAX COMPLIANCE

Manufacturers face a tough challenge when it comes to sales and use tax. Managing exemptions, keeping tabs on use tax and ensuring accurate calculations is important to limit risk and exposure. Accurately tracking, accounting for and recovering sales tax credits is vital to ensure that pass-through sales taxes don't become a drain on profits. Many manufacturers find themselves so bogged down in the compliance process that they don’t manage these other high risk and costly aspects of the process. Moreover, many manufacturers do not have separate sales and use tax functions, meaning that the entire sales and use tax process robs the company of time and focus against more strategic accounting functions or business activity taxes that directly impact the bottom line.

Fortunately today’s manufacturers have a better option than the traditional administrative, complex and risky in-house sales and use tax compliance process … Tax Partners. Tax Partners Managed Services has helped many leading manufacturers from a variety of different industries gain control, reduce the risk and lower the cost of sales and use tax compliance. Companies like Ford, Raytheon, Lam Research and Daimler-Chrysler have benefited greatly from our end-to-end compliance service.

As the largest provider of sales and use tax compliance services in the US, Tax Partners Managed Services has scale, process integrity and experience. Our proprietary system, TRACS™, brings automation to the entire compliance process, improving accuracy and enabling a consistent, predictable compliance process. This means that our clients receive a worry-free, hands off tax compliance service. Able to let go of sales tax, our clients can stay focused on their core business … something that is vitally important in today’s environment.

Our reports and on-line image library provides our manufacturing clients with access to the information they need to manage the process, handle audits and analyze their sales tax situation … all without having to be involved in the compliance process.

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SUCCESS STORY

“We Are Pursuing A Total Tax Outsource Solution – What Is Our Best Option?”
This world-class manufacturer of innovative equipment to the semi-conductor industry was undertaking a re-engineering of its overall business structure with the goals of remaining competitive and fostering continued fast growth within the high-tech business market. With this in mind, the CFO set his sights on a lean and focused financial structure where resources and personnel are optimally aligned against core business processes. The decision was made to pursue a total outsource of this company's tax function to take advantage of the available expertise, lower costs and streamlined operations gained by outsourcing this non-core business process.

As this CFO approached several Big 4 firms as possible total tax outsource solutions Tax Partners Managed Services was presented by one of them (an alliance partner) as an integral component of their comprehensive tax outsource offering. We align with Big 4 firms like KPMG and PwC to deliver a best of breed tax solution to companies desiring to outsource multiple components of their financial structure. Recognizing the fundamental differences between sales tax and the rest of business tax, this corporation realized that Tax Partners Managed Services could offer the strong technology and sales tax expertise that complements the consulting and tax minimization focus and strengths of the Big 4 firm. Today, this manufacturer is served well by the peace of mind and efficient business structure that outsourcing the entire tax function has provided. Together, Tax Partners Managed Services and the Big 4 firm have provided the best and most comprehensive solution for all of their corporate tax needs.

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