Past Work: Larger Businesses
The Department has recently invested some resources in examining some of our large corporate taxpayers. Due to confidentiality restrictions of IRS Publication 1075 and the relatively small pool of companies affected, we cannot disclose detailed information.
Broadly speaking, we were able to use information that a certain industry sector is required to file with another state agency. We compared that information with tax department filing records for those companies to identify a number of companies that were either not reporting all of their activity to for tax purposes or were not filing tax returns with us at all.
Collections to date on that program are over $2.6 million, and we expect additional revenue from future anticipated voluntary compliance from these companies. We also identified some opportunities where we can provide better information to companies in that industry to help them determine their correct tax base and tax.
Go back to the Compliance Corner.