Sampling Analysis & Examination
Only about 3% of resolutions have the optimal levels of operations. Streamline’s sampling analysis and examination review department continually sweeps and alerts companies to the misappropriation of funds (from populations and sub-populations of stratum). We continually find errors, even in businesses consulting with some of the world’s largest tax consulting companies. When we do, we illuminate undisclosed issues exposing the failures—effectively pinpointing each company’s unique matrix.
This department was born out of a demand for accountability, consistency and reliability as state began permitting taxpayers to draw their own samples for sales and use tax audits. Streamline’s practice is innovative precisely because it is one of the first that is separately-developed for audit sampling. We also support engagement teams with training, advice, development of audit sampling plans, sample evaluations, and preparation and analysis of data files to prep for sample auditing.
For more information regarding our sampling analysis and evaluation services, please contact us at (972) 838-1900.
Streamline Study Survey: Our sampling analysis and examinations reveal that many large companies operate at anywhere from 40% to 80% of capacity, often because of misappropriation of funds in their current systems. One hundred percent of companies undergoing Streamline’s analysis have given positive responses to our innovative, thorough procedures.
Compliance & Exposure Reviews
Unfortunately, a company’s exposure to back taxes may have no statute of limitations. Our compliance and exposure reviews discover if any returns have not been filed in a particular state. We will review and align all reports, greatly reducing companies’ exposure to penalties and interest.
Energy Consulting Services
Our energy consulting services will help you address your energy needs—today—to better manage your costs for the long term. Beginning with the start of Texas’ deregulation in 2002 (and similarly, in other markets nationwide) multiple retail electric providers, aggregators, brokers and consultants have entered and left the market. Purchasing electricity can be an incredibly demanding process and we are here to consult on products, prices, contracts, terms, services, and more.
We provide a wide range of larger retail electric providers, and a variety of rate plans: fixed-rate, MCPE, Heat Rate, block, hybrid, and others.
We can also assist with:
- Maximizing energy savings at no cost
- Detailed, thorough energy audits
- Analysis of thermal energy storage
- Reviews of demand-side management
- Audits of utility bills
- Forecasting of annual budgets
- Negotiations of energy contracts
- Analysis of HVAC energy use
- Tax-exemption certificates
- Correction of power factors
- Predominant use studies (see below)
Utility Studies for Manufacturing Operations (Predominant Use Study)
Predominant use studies are required to qualify a facility for a state and local sales tax exemption on electricity and natural gas billings. In a manufacturing operation, for example, this study determines the percentage of electricity/natural gas consumed directly for manufacturing (versus the facility’s total usage). Likewise, these studies apply for nursing homes and other residential facilities to determine utility usage for residential purposes versus the facility’s total usage.
Predominant use studies are valuable when a monthly bill from an electricity/natural gas provider has a sales tax of $50 or more; an existing/new facility undergoes qualification for energy tax exemptions; an energy tax exempt business is acquired by new owners (or relocated); a facility owner does not have access to the original energy tax exempt study (during an audit, or otherwise); an existing tax-exempt operation is expanded; or when switching to a new energy provider.
Peak Load Audits
Electric companies typically have a seemingly-unending variety of rate structures that are often ambiguous, and even misleading. Compounding this is a constant change in rates, tax laws, and in customers’ use patterns.
Our experts deftly review: if the customer is on the best rate plan, multiple meter issues, the reasonability of demand (Kw) readings, possible meter inaccuracies, and many other issues. We carefully examine all these possibilities, and more, to assure the lowest possible tax rates.
Utility Exemption Studies
Streamline has a methodical approach to collecting utility consumption data, to better determine existing and previous patterns of utility consumption, and to validate exemption claims and utility refund applications.
Our expertise and extensive research capabilities accurately determine the taxable classification of each item listed in the study, as we explore all possible issues. We inventory each item in a facility that consumes electricity or natural gas, for amps, volts, watts, ccfs, hours of operation, duty factors, and kilowatts. We then correlate billing history for an accurate result, considering the varied laws governing exemptions. Additionally, we continually track changes for every jurisdiction allowing these types of exemption.
Through periodic updates, we maintain clients’ proof of exemption. We also account for changes in production, facility expansions, acquisitions, and organizational growth. For this reason, a growing number of clients turn to Streamline to provide and maintain these substantial, often-overlooked exemptions.
Our services include: regular updates and determination of credits, audit defense, exemption claims to the utility vendor or taxing authority, refund claims, compliance reviews, studies or documentation; corporate tax libraries of documentation; flexible fees; replication of archived client studies; letter rulings requests; tax research, and more.
For more information on Streamline’s utility exemption studies, contact us at (972) 838-1900.
We help organizations develop strategic visions, action plans, and timelines for their internal audit and risk management functions. With our accelerated solutions environment, we craft step-by-step action plans. World-class functions optimizing effectiveness, and matching resources with key risks are the result.
We provide a deep array of educational seminars and training to corporations of all sizes. These local, state, and federal courses help taxpayers and accounting departments correctly apply the many sales and use tax laws, regulations, interpretations, and audit methodologies to enhance business practices.