MANUFACTURING REFUNDS & EXEMPTIONS
Nationwide manufacturers are continuously subject to evolving tax regulations, rates, laws, and exemptions, increasing the likelihood that manufacturing entities are overpaying on their state and local taxes. The expert consultants at Invoke Tax Partners are consistently seeing this trend in our clients’ sales and use tax overpayment reviews and complex personal property tax bills across all manufacturing industries. Serving as a single-source tax partner for some of the nation’s largest and most complex manufacturers, Invoke Tax Partners has developed a system to ensure the manufacturing industry is taking full advantage of all complex sales tax strategies and exemptions available in their industry, all the while recovering in detail overpaid sales taxes, netting significant annual tax savings.
For over 20 years, our complex personal property tax and sales and use tax practices have specialized in recovering overpaid taxes, reducing tax liabilities and minimizing future state tax exposure by implementing best practices and technology for manufacturers across the nation. As one of the most complex service industries Invoke partners with our expert tax consultants possess the experience and relationships necessary to achieve only the best results for multi-state manufacturing companies across the country. Contact us today to speak with an expert on areas within complex personal property tax or sales and use tax where you are likely to be able to save millions of dollars on tax assessments and obtain optimal tax refunds.
Manufacturing Industry Tax Partnership
Recover Overpaid Taxes
Reduce Tax Liabilities
Implement Best Practices
Complex Personal Property Tax Services for Manufacturing Entities
Given the nature of the manufacturing industry, complex personal property taxes have proven to be one of the most threatening cost expenditures to the bottom lines of our clients. With compliance necessary in most jurisdictions, complex internal audit requirements, and the sporadic nature of audits by state and local taxing authorities, complex personal property taxes are frequently overpaid, and manufacturers across the nation are not adequately obtaining relief.
Our complex personal property tax consultants have significant knowledge of the taxation patterns and tendencies seen in local taxing authorities across all jurisdictions and possess the relationships necessary to achieve reductions manufacturing entities deserve. Our complex personal property tax review process includes an analysis of the manufacturing industry’s most historically lucrative tax minimization strategies, including:
- Pollution Control Exemptions
- Fair Market Value Studies
- Inventory Valuation
- Freeport Exemptions
- Inutility Studies
- Functional & Economic Obsolescence Analysis
- Credits and Incentives Negotiation & Compliance
- Bond for Lease
- PILOT Agreements
- FILOT Agreements
- Abatement Negotiation and Compliance
- Fixed Asset Inventory Services
- Ghost Asset Studies
- Fixed Asset Inventory & Reconciliation
- Asset Tagging Services
The Invoke Approach to Business Personal Property Tax Savings
Changes in personnel, audit notifications, unexplained increases in property taxes, and unexplained fees charged by a current consultant are all noteworthy instances that threaten the bottom line of manufacturing entities of all sizes. Our business personal property tax engagements often begin with a complimentary desktop review and typically include annual site inspections, at minimum for multistate portfolios, to complete a fixed asset review prior to submimssion of renditinons. This approach best allows our experts to secure the most holistic cost savings for our manufacturing clients, and provides the most favorable fee structure for manuifacturing entities of all sizes.
To stay in front of and in some cases avoid often costly circumstances, our experts recommend a proactive approach to complex personal property tax savings by engaging our business personal property tax consultants early. Contact us today to begin your no-obligation desktop review and obtain an understanding of where you may be missing out on business personal property tax refunds and savings.
Complex Personal Property Tax Reduction
By the Numbers
Year 1 Appealed Value Reduction
Year 1 Appealed Value Reduction
Year 1 Property Tax Savings
Year 2 Appealed Value Reduction
Year 2 Appealed Value Reduction
Year 2 Property Tax Savings
National Director of Personal Property Tax
Lead Consultant | Complex Personal Property Tax
Seth Krchmar exhibits a personal and professional commitment to hard work and precise attention to detail that consistently provides clients with a level of service that is hard to find in today’s fast-paced business world. He is keenly aware of the value of Relationships and Reputation.
His experience includes extensive work in the manufacturing, printing and publishing, broadcasting, oil and gas, telecommunication, distribution, retail and hospitality industries.
Seth’s many years of service in this industry have given his insight into identifying and quantifying significant and long-lasting property tax savings for our clients. His success negotiating reductions in property tax liabilities across the United States has led to hundreds of thousands of dollars in property tax reductions.
Sales and Use Tax Consulting for Manufacturing Entities
Manufacturing entities across the nation are subject to increasing sales and use taxes due to the high volume of transactions associated with the nature of manufacturing and distribution. Because nearly all of today’s manufacturing companies are providing their product to states in many regions across the country, they are subject to being taxed from state and local authorities with significantly varying tax laws and exemptions.
Our manufacturing sales and use tax practice has developed a proprietary sales tax transaction review process that allows our team to analyze 100% of transactions available. This process allows us to successfully identify all invoices with applicable sales taxes. The population of taxed invoices is then reviewed against respective state and local tax laws to ensure all qualifying exemptions are being utilized. Within this process, our team frequently discovers misallocated and overpaid sales taxes resulting in over assessed values and tax bills for manufacturers.
Because sales tax audits are not cyclical, it is imperative that manufacturing entities, especially those with facilities in multiple states and regions, are proactively working with a sales and use tax partner to ensure consistent results for their bottom lines. If your business is under a sales tax audit in one or more states, this is the time to contact our experts. Audits typically result in an increase in tax bills when working without an experienced tax consultant due to limited transaction review scope and missed exemption opportunities.
Your Partner in Sales Tax Audits
Invoke’s Sales and Use Tax team uniquely tailors each sales tax audit strategy to the client under audit, knowing that our approach to maximizing sales tax refunds and audit returns is not one size fits all. Successful handling of these audits requires preparation and understanding of the audit process, which can be a particular challenge when dealing with nuances from several different states, as many of our manufacturing clients do. From more than thirty years of successfully navigating audits in all 50 states, our team has created not only the simplest course of action to yield optimal sales tax audit defense results for manufacturing entities with operations in all 50 states; we’ve also mastered how to best navigate the process in a way that both addresses our clients’ concerns and satisfies the local taxing authorities, providing a smooth sales tax audit process for all parties.
If you have been notified that you are under a sales tax audit by one or more state taxing authorities, we strongly recommend contacting our team immediately to yield optimal and often multi-year refunds. Should you wish to obtain additional information on the sales tax audit navigation process prior to being audited, download our complimentary sales tax audit whitepaper written by Invoke’s National Director of Sales & Use Tax Scott Schwertner, and 30-year Texas Comptroller veteran David Dunn.
Sales and Use Tax Manufacturing Audit Defense
By the Numbers
Sales and Use Tax Savings to date (All Entities)
Sales and Use Tax Audit Savings (Single Entity)
Sales and Use Tax Audit Net Refund (Single Entity)
National Director of Sales & Use and Severance Tax
Lead Consultant | Sales and Use Tax
Scott Schwertner leads the Sales & Use Tax Team for Invoke. Scott has 20 years of Sales and Use Tax experience and has worked across the United States for some of the largest manufacturing, chemical and oil and gas companies. He has extensive experience completing refund projects, audits and managed audits. Scott has spent his entire career providing professional and ethical Sales and Use Tax saving services, and his commitment to clients has created lasting business and personal relationships over the past two decades. Scott holds a BBA in Accounting from Texas A&M University.