One of the products that Conservice offers is our SyNTAX (Synergy+Tax) program. Through this program, Conservice has recovered hundreds of thousands of dollars in sales tax over-payments on behalf of our clients.
Why are Communities Eligible for Tax Savings?
Some states (including Texas, Missouri, Florida, South Carolina, Massachusetts, Washington D.C., and others) have enacted legislation permitting exemptions on sales tax for the residential use of electricity, natural gas, and other utilities. However, in most cases these exemptions must be claimed before they can be applied. Our SyNTAX team members research tax laws, and notify our clients when opportunities exist for savings in their portfolios.
Once a client has signed on for this service, SyNTAX auditors identify which properties and accounts have been paying sales tax. They then check with the property manager to ensure that any accounts which are not eligible are removed from the application. This is because many states require accounts to be exclusively or predominantly used for residential purposes.
SyNTAX Experts Apply for Refunds
Once the necessary information is obtained, our agents can then apply for an exemption and refund of sales taxes previously paid. The amount of sales tax that can be recovered depends on the length of the statute of limitations in that state (normally three or four years) as well as how long a property has been paying sales tax during that period. For properties with large utility bills, refunds can reach into the tens of thousands of dollars!
Overcoming Obstacles for our Clients
Complications and setbacks inevitably arise in the process of claiming and receiving refunds, but our agents are well-experienced in handling and overcoming these issues. We work with state departments of revenue, service providers, account managers and clients to ensure that our clients receive the exemptions and refunds to which they are entitled. We even obtain refunds for properties which might have been sold within the statute of limitations. We also follow up periodically to make sure that any newly acquired properties also receive sales tax exemptions.
What Makes us Utility Sales Tax Experts
SyNTAX agents also monitor changes in tax laws and their interpretations. In January of this year, for example, the Supreme Court of the state of Missouri reinterpreted a line of tax code in an advantageous way for our clients. This opened up a new field of opportunity for us to pursue exemptions and refunds on behalf of our clients who have properties in that state.
Conservice is pleased to offer SyNTAX as one more service to better fulfill the needs of our clients while saving them money.