Trump tanking Dodd-Frank...

[CAA Flagship]

I haven't seen OSHA or L&I...yet.

Who audited you?

[kalm]

I haven't seen OSHA or L&I...yet.

Who audited you?

It was in my first sentence:

Having gone through State of Washington Department of Revenue and Employment Security audits...

Where did you learn reading comprehension, the toaster store?

[CAA Flagship]

Who audited you?

It was in my first sentence:

Having gone through State of Washington Department of Revenue and Employment Security audits...

Where did you learn reading comprehension, the toaster store?

How much did they want to fine you?

[HI54UNI]

Having gone through State of Washington Department of Revenue and Employment Security audits it's nearly impossible to be 100% compliant with any set of regulations. The D o R auditor told me that the state literally employs in house, full time auditors in larger companies like Microsoft to help with compliance.

I had a guy from Paychex pimping me their regulatory compliance package a few years back. For $1400/month they could practically guarantee OSHA and L&I compliance and it was only a matter of time before I'd get a call as Obama and the State had been sending out examiners to small businesses everywhere.

Thankfully still haven't seen them yet, but I did create work place safety and employee manuals and started documenting meetings just to be on the safe side.

The regulators themselves don't know half the rules but they can bet on the fact that a small under-resourced business ain't compliant. The auditor does a day's worth of investigating and meeting with the manager and the it's pretty much a shake down. "We could fine you $50,000 for all these infractions, but I'll tell you what...we're willing to settle for $2500 if you are."

That's what happened during our last audit.

That's pretty much true in most states. Auditors in GA are running full time audits at places like Coke, UPS, Gulfstream, etc.

Like every state, Georgia doesn't charge sales taxes on products companies buy that they use in the manufacturing process of an item. Gulfstream pays sales taxes on EVERYTHING they buy on purpose. The statute of limitations is 3 years for credits. You have 3 years to claim a credit or you lose it. This year Gulfstream will request a refund for the taxes they paid on the products they bought in 2014. They will get a refund for those taxes and we will pay them 12% APR on the over payment of those taxes.

For example, if Gulfstream overpaid $10,000,000 in taxes for calendar year 2014, the state of Georgia will write them a refund check for somewhere in the neighborhood of $13,600,000.

Wow! Nobody with the state of Georgia is smart enough to figure this out and put a stop to it?

[bandl]

That's pretty much true in most states. Auditors in GA are running full time audits at places like Coke, UPS, Gulfstream, etc.

Like every state, Georgia doesn't charge sales taxes on products companies buy that they use in the manufacturing process of an item. Gulfstream pays sales taxes on EVERYTHING they buy on purpose. The statute of limitations is 3 years for credits. You have 3 years to claim a credit or you lose it. This year Gulfstream will request a refund for the taxes they paid on the products they bought in 2014. They will get a refund for those taxes and we will pay them 12% APR on the over payment of those taxes.

For example, if Gulfstream overpaid $10,000,000 in taxes for calendar year 2014, the state of Georgia will write them a refund check for somewhere in the neighborhood of $13,600,000.

Wow! Nobody with the state of Georgia is smart enough to figure this out and put a stop to it?

You're assuming said state of Geogia person/s aren't in bed with Gulfstream?

[Baldy]

That's pretty much true in most states. Auditors in GA are running full time audits at places like Coke, UPS, Gulfstream, etc.

Like every state, Georgia doesn't charge sales taxes on products companies buy that they use in the manufacturing process of an item. Gulfstream pays sales taxes on EVERYTHING they buy on purpose. The statute of limitations is 3 years for credits. You have 3 years to claim a credit or you lose it. This year Gulfstream will request a refund for the taxes they paid on the products they bought in 2014. They will get a refund for those taxes and we will pay them 12% APR on the over payment of those taxes.

For example, if Gulfstream overpaid $10,000,000 in taxes for calendar year 2014, the state of Georgia will write them a refund check for somewhere in the neighborhood of $13,600,000.

Wow! Nobody with the state of Georgia is smart enough to figure this out and put a stop to it?

They're not going to stop it. It's a tax break without being a tax break, a wink and a nudge. I can probably count on one hand how many companies actually do it. You also need to know that Georgia also collects 12%APR on all outstanding tax debt (personal and corporate income as well as trust fund taxes too) so the state is still coming out way way way ahead.

[SDHornet]

Wow! Nobody with the state of Georgia is smart enough to figure this out and put a stop to it?

They're not going to stop it. It's a tax break without being a tax break, a wink and a nudge. I can probably count on one hand how many companies actually do it. You also need to know that Georgia also collects 12%APR on all outstanding tax debt (personal and corporate income as well as trust fund taxes too) so the state is still coming out way way way ahead.

You mean the fed kicks in monies to cover it. GA only collected $1.8k per capita and the fed had to kick in $14.3B (37.3% of GA's "revenues") in 2013. I'd love to see Trump cut back on this wasteful Fed spending, let the states deal with their own shit...you know states rights and all that jazz.

[Baldy]

They're not going to stop it. It's a tax break without being a tax break, a wink and a nudge. I can probably count on one hand how many companies actually do it. You also need to know that Georgia also collects 12%APR on all outstanding tax debt (personal and corporate income as well as trust fund taxes too) so the state is still coming out way way way ahead.

You mean the fed kicks in monies to cover it. GA only collected $1.8k per capita and the fed had to kick in $14.3B (37.3% of GA's "revenues") in 2013. I'd love to see Trump cut back on this wasteful Fed spending, let the states deal with their own shit...you know states rights and all that jazz.

Not quite. That money comes out of "state funds".
66% of those Federal revenues just went to pay for Medicaid. Virtually all federal funds to the states are earmarked for joint programs (mandates) like Medicaid, transportation, education, etc. The Fed just doesn't give states money to pay their bills.