Due to the drop in demand for oil and gas attributable to the COVID-19 pandemic and the decline in oil prices, cash flow generation is crucial to energy companies. To enhance cash flow, energy companies should review their sales and use tax procedures to determine if sales and use taxes for certain purchases of services or assets were paid in error. If sales or use taxes were paid in error, there may be an opportunity to obtain a cash refund of such taxes.
Source: taxconnections.com
Latest Posts in "United States"
- Washington Expands Sales Tax to Additional Services: FAQs on ESSB 5814 Law Changes
- Alabama Localities Challenge Simplified Seller’s Use Tax Validity Post-Wayfair in Court Case
- Louisiana Expands Sales Tax to Include Digital Products and Services Starting 2025
- Louisiana Updates 2024-2025 Tax Laws on Digital Products and Services, Adjusts Exemptions
- Indiana Rules Generative AI Chatbot Subscriptions as Nontaxable Services Under Sales Tax Law
