Case Study: Pharmaceutical supplier facing acquisition needs sales tax provider

Picture this … you're a CFO at a pharmaceutical supplier in the process of being acquired.

As part of due diligence, you need to sign a statement that all taxes are current and in good standing. However, a recent nexus and taxability review uncovered as many as 10 states with tax exposure. Nothing has been done with this information.

The potential acquisition placed a new focus on this liability. 

Because the risk of outstanding taxes and penalties could significantly impact purchase price and escrow amounts, it's time to get some help. 

So, you turn to TaxConnex.

TaxConnex performed an abbreviated nexus review to confirm past findings, then identified outstanding obligations and developed a remediation plan. All states involved had amnesty programs or Voluntary Disclosure Agreements available, which allowed for waived penalties. 

Now, you can focus on the acquisition of your business.

And you have a dedicated sales tax expert assigned to your account who’s on-call to answer any questions, and who really feels like an extension of your own team. That’s what happens when it’s all on us.