If you already have a VAT authorization in Iowa, you are unlikely to be eligible for a VDA, as the goal of the Iowa Voluntary Disclosure Program is to encourage non-registered tax payers to comply with the department. As a general rule, if you are accepted, you must submit all necessary returns and transfer the taxes and interest due. You may also need to provide your books and records for the department to search them. As a general rule, you also waive your right to argue that you don`t have a Nexus in the state. If, at any time, the state finds that you have misrepreserated your facts, that you have not complied with the agreement or that you continue to disrepresulaate the state`s VAT laws, you may disqualify your VDA. You must seek a binding agreement with the State for a period of at least three years, submit all necessary returns and forms for the necessary period within 90 days, make estimated renewals and/or payments to obtain a waiver of the sentence and transfer all taxes and interest in accordance with the VDA. For more information about the VDA app, click here. They must complete a voluntary disclosure request that includes a ”declaration of insurance and inducements” and a declaration of the tax commitments the company wishes to settle. What happens after New Mexico approves your first tax-managed audit agreement (VDA)? You must sign and return the contract with signed copies of your tax returns for the relevant tax periods. You can learn more about the process here, here and here.
The Louisiana Uniform Local Sales Tax Board (”ULSTB”) has just passed its regulations adopted in the Louisiana Administrative Code (”LAC”) 72:I.105 (”Voluntary Disclosure Agreements”) relating to a uniform voluntary disclosure program and a uniform voluntary disclosure agreement (VDA) for local sales and use in Louisiana. The final regulation adopted contains the same language as the previous proposed regulation adopted by ULSTB on 29 November 2018. After receiving a notice from the division, you must provide all the information, documents, evidence and returns requested within the requested time frame. If you want to learn more about Iowa`s voluntary disclosure program, click here. If a company`s voluntary disclosure agreement or VDA is accepted, there are strict deadlines for obtaining all the benefits of the Voluntary Disclosure Agreement program. Keep in mind that a voluntary disclosure agreement is a legal agreement between the company and the state. Therefore, there are very clear results that need to be provided by the company, as well as a rigorous schedule as to when these items should be made available. Like almost everything in revenue and usage tax, these deadlines vary from state to state, but an experienced VAT advisor will know these deadlines and will be assured that his client will meet them.
When were to apply for a new VAT authorization in New Mexico during the sales tax audit agreement (VDA) process? You will receive a notification from the department that will inform you of all other conditions and requirements necessary to complete the voluntary disclosure process. As required by law (see La. R.S. 47:337.102 (F)), ULSTB has adopted this regulation to establish a single voluntary advertising program and an equivalent VDA for subjects seeking relief when liability is owed to more than one local revenue and usage tax collector.