Sales and Use tax recovery – MTRS provides clients with sales tax recovery services of state and local taxes to reduce mistaken payments and enhance bottom lines. Most States have a three to four-year statue, so if you don’t act proactively, your company is losing non-recoverable profit.
Consulting – Tax is a very specialized intrigued field and requires educated, focused professionals, which is why your own accountants may not have mentioned the tax abatement and credits available for your specific industry type. We focus on specializing in manufacturing tax to put your company in the most advantageous tax position. We are here to act as your advisors and leaders, or other acting positions of need.
Training & Education – At MTRS we do not just perform tasks, we educate your designated staff intuitively on the process. This creates a continued succession plan for accomplishment. Taxes in general and tax law are constantly changing. In order to keep up with the current and latest most advantageous positions, we advise to develop a continued relationship with MTRS where all resources will be shared and provided that are applicable.
Sales Tax Preparation – we will prepare your sales tax returns in compliance with the applicable states necessary which will take the burden off of your current employee’s roles. If you would like keep the sales tax filing in house, we will share our expertise and guidance to provide you and your responsible employees with a level of confidence.
Exemption program advisors – there are many exemption programs that exist currently for manufacturers. We will make sure you are receiving maximum benefits and suggest financial arrangements or advice where necessary to capture extended relief.
Federal tax credits and exemption implementation and guidance – Federal tax credits and exemptions exist for manufactures that are eligible for specific credits. The criteria for the federal tax credits and exemptions is very specific and can be considered confusing or overwhelming. We are here to analyze your company structure and guide you to receive the most financially advantageous position.
Research and Development tax credit – we put this in its own category rather then combining it with the federal tax credits and exemptions. If eligible, the R&D credit not only significantly applies to business where you can carry back 3 years and forward 20, but it also flows through individual returns if certain business structures are in place. If your company has been involved with any of the listed activities, you may be eligible to claim a R&D tax credit.
- Designing, developing or forming new or improved products
- New facilities designing, development and construction
- Improving processes already in existence
- Application or development for patents
- Developing software for internal use or for sale to customers
- Designing and constructing
Accounting for tax matters training – we can set up a customized training which is for your industry and company structure with your company in person or through a webinar.
Internal audit – MTRS can, at your request audit your internal records to assure you are receiving the most advantageous tax stand point.
External state audit management – Have you received a notice stating that your company is required to participate in a state regulated sales tax audit? Do not attempt to do this on your own! Our professionals are versatile and experienced with dealing with state agents and going through audits of every type as majority of our staff have been previous auditors. The state agents do the same type of audit for every company type when there are different circumstances of exclusions, exemptions and rules which vary for each type of industry. We will manage, guide and prepare if necessary any documentation and feedback directly with the state agents to ensure you are receiving the most advantageous tax scenario.
Continuation services – After MTRS performs your initial services, we offer continuation plans where we will provide your employees with unlimited resources and access to our experts to instill confidence for a going forward plan. As part of the continuation plan, we do test audit periods to ensure you are maximizing your benefits and staying current with the forever changing sales tax laws.