SRI (Sales Revenue Inc.) was incorporated for the purpose of tracking Sales and Use Tax for governmental entities. Our service has been very beneficial in recovering revenue for Municipal Utility Districts that have agreements with the City of Houston, and share in the local Sales and Use Tax collected. We have served as a full time tracking and recovery company since 2004 and continue to expand our service to other jurisdictions and counties that have similar need for sales tax accuracy. SRI clients include Emergency Services Districts, County Assistant Districts, Improvement Districts, Economic Impact Areas, Tax Increment Reinvestment Zones, and Municipal Utility Districts.
SRI does not charge a recovery fee of any kind.
SRI does not charge a setup fee of any kind.
SRI will represent the Client in all matters involving Sales and Use Tax when
addressing the State Comptroller.
Every client served by Sales Revenue Inc. has benefited from our sales tax monitoring and recovery services. Through monthly monitoring and physical, in-District auditing, Sales Revenue Inc. provides multiple arrays of coverage and the assurance of recovery in the case of missing revenue.
OVER $110,000.00 PER YEAR GOING FORWARD IN NEW SALES TAX REVENUE.
SRI recently corrected sales tax filing errors pertaining to several businesses in a client’s Strategic Partnership and was able to not only reclaim all monies that were not received but add an additional $100,00.00 to the Districts annual receipts.
RECLAMATION OF PAST SALES TAX DUE, CORRECTION OF SALES TAX BOUNDARY.
SRI was hired by a client to investigate potential missing revenue going back three years. It was discovered that not only was revenue missing but a large box store was incorrectly left out of the boundary where the tax was imposed, this resulted in a $642,000.00 recovery check for the District.
BOUNDARY LINE CORRECTION FROM DRAINAGE REMOVAL
While performing an in-District audit for our client SRI discovered that a drainage ditch had been relocated to accommodate a large retail shopping center. Both the State and the City of Houston’s records did not reflect the change resulting in 45% of the retail centers businesses being coded as outside the tax boundary. Working directly with the City SRI was able to correct the problem, have corrected boundary maps drawn, as well as recover sales tax receipts previously missed totaling $45,000.00.
INCLUSION OF LANDS IN A TAX BOUNDARY PREVIOUSLY EXCLUDED
With every client, SRI combines information gained from physically auditing the District with boundary maps to find areas previously excluded from the tax boundary and works to include them when able. Recently SRI worked with a District to add two business clusters previously outside of the tax boundary following utility lines that the District provided the businesses.
ERRONEOUS RECEIPT OF SALES TAX REVENUE PREVENTED
Using the knowledge we have of each area our clients are located in SRI continuously prevents receipts of sales tax revenue from another client, thus limiting the liability of a future repayment. Through our monthly monitoring system SRI is also able to alert the State when a business permit is coded erroneously to a particular client before that client receives any revenue from the business.
SALES TAX DATA GATHERING & TAX BOUNDARY SET UP
SRI has assisted multiple Districts in starting up a sales tax boundary and begin receiving revenue they previously were unaware they could collect upon. SRI has assisted Tax Increment Reinvestment Zones, Municipal Utility Districts, Improvement Districts, and Economic Impact Areas in the field of initial gathering of sales tax participant data and set up.
SRi will perform a door to door audit of every business entity located within the District Boundary looking for any business omitted from the Comptrollers list as well remove those that lie outside the District Boundary. SRI would also inspect and record each permit and all pertinent information contained therein. This initial report would serve as a master list for the District to reference. Additional data will be collected using proprietary software and review methods unique to Sales Revenue Inc.
Information collected in the initial set up would be entered in to corresponding spreadsheets and zones. Every account is researched alongside the State database to check for active or inactive permit status. Each month all information pertaining to each business is collected and entered in to the SRI database.
SRI provides a full, detailed report, delivered by a SRI Representative to the Board of Directors. This report will include a full analysis of the last quarter sales tax earnings, business openings and closings, and any funds recovered by SRI.
SRI serves at the pleasure of the Board and can accommodate any sales tax related request. SRI can also provide analysis of collections from other sorrounding Counties or Emergency Service Districts on a quarterly basis as wel as provide sales tax revenue reports on the city of Houston.