Business Personal Property

Tax Audits can include:

• Verification of exempt property
• Real vs. personal verification
• Detailed analysis of assets
• Thorough review of financial statements
• Physical walk-thru of facilities when needed
• Physical inspection of specific assets
• Obsolescence Reviews (performed with or without an audit)

We audit Business Personal Property tax listings to verify they are being listed in accordance with the North Carolina General Statutes and County instructions. Through comprehensive audit practices, which include validating information given to us by taxpayers for the review, we conduct audits that “leaves no stone unturned”. We work diligently with the tax office and the taxpayer to make sure the listings are audited in a professional & ethical manner to achieve an accurate listing for the future.

Gross Receipts

Occupancy Tax

For those establishments required to list Room Occupancy Tax, we examine gross receipt information from the taxpayer and compare it to the amounts listed and taxed by the listing jurisdiction to verify the monthly listings are being accurately filed. We have a professional on staff with a background in the financial end of the hotel/motel industry that gives us extra insight as to the workings of Room Occupancy Tax.

Food & Beverage Tax

We assist Counties in verifying the accuracy of the Food & Beverage tax listings received by those businesses that are required to file. Gross Receipts documents are examined from the taxpayer and compared to the listings filed and taxed to determine if the proper amount has been paid.

Our services assist the county in ensuring all business taxpayers in the county are listing properly and will help the county promote equity among taxpayers and ultimately increase the county’s tax base. The success of our auditing programs has come from performing in-depth, thorough audits, and researching every aspect of each audit. This approach results in a higher percentage of discoveries and increased revenue for each county.

Counties work with CTSI because of the advantages we offer. Our professional, ethical and committed team conducts complete, thorough audits with a personal, down-to-earth touch. Working under the direction of the Tax Administrator/Tax Assessor, we represent each county well by upholding high standards of business ethics and by maintaining a commitment to complete, accurate and fair audits.

Due to our commitment to perform a thorough audit we also include expert staff witnesses to support the appeals process. If a taxpayer does appeal a discovery that we have prepared for you, we will stand by our work and be available to attend, at your request, any hearings or conferences necessary to help resolve the issues.