Business Licenses Q&A: Audits
Audience Question: Would a company ever need a business license audit, similar to a sales tax audit?
Amanda's Response: I’d have to know what’s meant by “business license audit” and “sales tax audit.” We have a business license audit service in which we look at a company’s business activity and locations (whether office locations or service locations where services are rendered or products are shipped) and then research licensing from the state level down to the local level. Many companies utilize this product to get an inside look at the status of their business license compliance and where there might be gaps.
Joe's Response: One of the many services available to our customer is an audit/gap analysis showing all the licenses a company should have in a given set of jurisdictions. We can also perform license verifications on those jurisdictions to see what licenses a company currently has and the status of those licenses.
(Author's Note: Business Licenses, LLC was pleased to host a webinar on April 30th, 2014 to discuss emerging trends in business license compliance. During the Q&A, the audience submitted many thought-provoking questions that our panelists didn’t have time to answer. We are going to periodically post those questions to this blog along with answers from the two panelists, Amanda Mattaliano and Joe Vitulli.)