Exposure Review
Due to increased probability of businesses being subject to an audit and the fact that over 60% of audits result in a deficiency assessment, businesses may consider an Exposure Review of their potential Sales Tax liability. An Exposure Review would afford an opportunity to determine upfront what the potential sales tax liability would be, if and when an audit is notified. If an issue needs to be corrected, necessary changes may be made, based on each individual case, to minimize the tax liability risk during the audit process. In short, a review would help pre plan the audit strategy and be in control when the time comes. It should also be kept inmind that if an audit ends up with a deficiency assessment once, the probability of the business getting audited by the State a second time increases substantially. Therefore it is extremely important to get it right the first time.

A review would help pre plan the audit strategy and be in control when the time comes.