- Baker Tilly’s dealership services team of tax professionals compiled a list of dealer-specific tax considerations below. Please keep in mind that your goal should be to maximize your long-term wealth and profitability; decisions on tax policy are secondary considerations to this goal.
- As state governments continue to deal with budget shortfalls, revenue agencies continue stepping up their efforts in raising revenue through sales tax audits. States have increased the size of their audit staff and are employing new technologies in their discovery efforts. Auto dealerships are not immune to selection and should know what to expect and how to prepare for an audit.
- The New York Office of Unclaimed Funds (NYOUF) released a new policy for business-to-business transactions that has a bearing on unclaimed property holders within the state.
- Delaware businesses still have time to file delinquent unclaimed property reports and avoid harsher penalties.
- Baker Tilly assists client to reduce personal property and income taxes.
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