Oil Prices are on the Rise, But Challenges Linger: Our Sales and Use Tax Team Has Your Solution
After the unprecedented drop in oil prices in early 2020, commodities are finally back on the rise. But just because the cost is returning to normal, doesn’t mean the industry won’t face the consequences for months to come.
At Merit Advisors we understand that for many in the oil and gas industry—including our clients—are making tough decisions trying to protect their workforce and the stability of their business in this tough economy. We know you are trying everything to protect your balance sheet from reducing overhead and expenses, to collecting accounts receivable, finding relief from lenders, and selling assets.
But have you considered a transaction tax refund review? Your business might be overpaying transaction taxes. These taxes are complex and nuanced and can leave your company paying more taxes to the state than you actually owe. Let the experts at Merit Advisors review your purchases and see if we can find you undiscovered cash.
When you work with Merit Advisors on a Tax Refund Review, our experts:
- Examine invoices and company payable over the past four years
- Identify overpaid sale and use, well-servicing, severance, and fuels excise taxes
- Help your business recoup those dollars by preparing a claim and filing with the state
- Realize cash tax savings—rapidly—for your business
We’re your team of trusted tax experts crafting holistic solutions to improve cash flow and add profit back into your bottom line. So if you’re ready to discuss how Merit can help you find cash savings, give us a call!