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AG-20 Extrapolated Sales and Use Tax Audit Assessments

This publication is recommended as a guide in accounting for the allocation of sales and use tax charges/credits resulting from audits by governmental or regulatory agencies utilizing extrapolation procedures.  Government sales and use tax audits frequently use sampling and extrapolation techniques in lieu of auditing an entire population of invoices. The resulting settlement or negotiation of such audit claims is not easily identified with specific properties or operations.  This Guideline provides for an equitable method of allocating, to all properties impacted, the additional costs incurred or credits received as a result of extrapolated sales and use tax audit claims should the operator decide such amounts are chargeable to its non-operators.  11 pages.  2001.

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AG-20 Extrapolated Sales and Use Tax Audit Assessments

SKU AG-20 Categories ,

Description

Table of Contents

  1. PREFACE
  2. PROBLEM
  3. GUIDELINE
    1. Litmus Test for Allocation Methodologies
    2. Steps
  4. EXHIBIT A¾Calculating Total Tax Claim
  5. EXHIBIT B¾Allocating the Tax Claim – Example 1
  6. EXHIBIT C¾Allocating the Tax Claim – Example 2

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Additional information

Weight 4.0000000035274 oz
Dimensions 11 × 8.5 × 0.025 in
Format

Digital, Printed

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OUR MISSION

COPAS provides expertise for the oil and gas industry through the development of Model Form Accounting Procedures, publications, and education. We are a forum for the active exchange of ideas which result in innovative business and accounting solutions.

COPAS

P.O. Box 21272
Wichita, KS 67208
Tel: 303-300-1131

Contact Us →

CONNECT WITH US

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