With the assistance of the Borough’s new tax collector, we have recently implemented a new tax audit program to identify companies who owe Business Privilege Taxes. The press release below has more details.
TRI-STATE FINANCIAL GROUP
Station Square 1
Paoli, PA 19301
FOR IMMEDIATE RELEASE
CONTACT: Ken Kilpatrick – 610-323-3500
TRI-STATE FINANCIAL GROUP OF PAOLI IDENTIFYING COMPANIES NOT IN COMPLIANCE WITH CONSHOHOCKEN’S BUSINESS PRIVILEGE TAX
If you own a business that operates in Conshohocken but have not paid a business privilege tax, your company could be in delinquency status.
Headquartered in Paoli, Tri-State Financial Group, administrators of business privilege/ mercantile taxes and local services taxes (LST), has been actively seeking businesses that belong on Conshohocken’s tax rolls, but are not. The company provides the Borough a unique service through its “Discovery Program” that identifies businesses that have not paid their business privilege taxes, and brings them into compliance. Tri-State Financial Group has located several such businesses and is in the process of contacting others who have not paid.
Conshohocken Borough Manager Fran Marabella says the Borough is pleased with Tri-State Financial Group’s efforts.
“It is important that all companies who owe business privilege taxes pay their fair share,” said Marabella. “These collections help the Borough maintain the same level of services it has provided in the past without raising taxes.”
Tri-State Financial COO Robert Schaefer points out that some businesses are out of compliance because they may not know that they owe business privilege taxes. In addition, the receipt of rental income within the Borough is also considered business activity and is taxable.
“Although some companies may not realize they are subject to business privilege taxes, it remains their responsibility to determine if they are,” said Schaefer.
So how do businesses become noncompliant?
Schaefer says while there exists some companies that willfully evade local taxes, his firm finds most businesses that have not paid business privilege taxes simply were not aware they were required to do so.
“Failure to file business privilege taxes most often occurs because a company did not contact the municipality to determine what it needs to pay, the company has operations in another municipality to which it pays business taxes, or the company retains an accountant who is not local and is not aware of the tax,” said Schaefer.
Companies with operations in Conshohocken who have not paid a business privilege tax should consult with their accountant or contact Tri-State Financial Group directly at 610-993-8609.
ABOUT TRI-STATE FINANCIAL GROUP
Tri-Sate Financial Group’s strength derives from the experience of two well established Pennsylvania companies that offer state-of-the-art programs for tax administration, delinquent tax collections and discovery of unregistered tax debtors.
First, Keystone Tax Bureau, Inc (KTB), established in 1988, is the collector of: Amusement, Business Privilege, Mercantile, Earned Income, and Local Service taxes in Southeastern Pennsylvania. With over 20 years of experience providing Revenue administration services in Pennsylvania, TFG will benefit and apply that knowledge to continue providing quality and expanded services to our clients.
Second, Revenue Collection Bureau, Inc. (RCB) established in 2000, is a full service Tax Compliance and Administration company dedicated exclusively to providing professional revenue recovery services to municipal and state government. Through experience and best use of technology, RCB achieves the highest levels of delinquent debt collection, and offers highly successful discovery programs that can bring millions of dollars of newly found revenue to our clients. For more information, visit www.tfgtax.com.