A New York sales tax audit can end with an assessment substantially larger than a business owner expected. The auditor may claim that your business underreported taxable sales, improperly treated transactions as exempt, failed to collect sales tax, maintained inadequate…
Receiving notice of a New York State sales tax audit does not mean that you are under criminal investigation. Most New York sales tax audits are civil examinations. The New York State Department of Taxation and Finance audits businesses to determine whether…
Running a business can create serious cash-flow problems. Payroll is due. Vendors need to be paid. Rent is approaching. A business owner may see money sitting in the company’s bank account—including sales tax collected from customers—and use those funds to…