Who gets audited, why they get audited, and the impact on companies
Unless you’ve been audited in the past, you might not know why certain businesses are targeted, the most common types of errors auditors look for, and most importantly, how much it will cost the business should the audit outcome not weigh in your favor.
Using extensive data acquired from the Texas Department of Revenue and the California Board of Equalization, this report uncovers the following:
- Nearly 60% of audits are spread among just 4 industries
- One-third of audits targeted companies that are headquartered out of state
- Average cost of an audit including penalties, fees, and professional counsel
Download the report: Sales and Use Tax Audits Uncovered.