11-12-2003 Council Agenda - Laserfiche WebLink

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MINNESOTA. REVENUE MANAGED AUDIT AGREEMENT This is an agreement between the Minnesota Department of Revenue and City of Little Canada, hereafter referred to as the Company, relating to a Managed Audit to be conducted for the period of 7/01/00 through 9/30/03 both parties agree to the following: 1, The Company will review appropriate sales records as determined by the audit plait This review will determine unreported sales tax liability due for the above period and should be completed within 60 days from the signing of this agreement. All records and computations will be made available for verification by the Minnesota Department of Revenue. 2. The Minnesota Department of Revenue agrees to accept upon verification, for assessment purposes, the Company's determination of unreported sales tax. Interest on any additional amounts will be assessed from the due date of the tax to the order date. Further, the Minnesota Department of Revenue will not assess late filing or late payment penalties on additional assessments if the Managed Audit is completed successfully. 3. If not now registered, the Company agrees to provide the Minnesota Department of Revenue with a completed Application for Business Registration, Form ABR, with the State of Minnesota prior to resolution of this audit. The Company will review internal procedures and establish tax reporting procedures sufficient to timely resolve future tax liabilities pursuant to the findings of this audit. 4. The Minnesota Department of Revenue will provide written procedural guidance which is sufficiently specific for the Company to conduct the audit This guidance includes the general scope of the audit, specific records expected to be reviewed, test period or techniques to be used, layout of appropriate schedules, and technical information necessary to complete the review as detailed in the Procedural Attachment of this agreement The Minnesota Department of Revenue will be available for ongoing consultation both during the conduct of this audit and in the future as questions or concerns may develop. 5. The Minnesota Department of Revenue will arrange a post -audit conference with the Company, to provide the results of the audit. The Company will receive the final audit report with the Consent to Change Sales and Use Tax (DOR -51) or the Notice of Change in Sales and Use Tax (ST -300). The Company will submit payment within the specified time period (60 days) or file an appeal within the specified time period (60 days). The Minnesota Department of Revenue will acknowledge resolution of the Managed Audit for the periods covered by this agreement at the time the audit is paid in full. 6. It is agreed that in the event that the Company fails to fulfill the terms of this agreement, the Minnesota Department of Revenue will proceed with the audit Any change in liability will be based on all available information and includes any completed audit work of the Company and/or the Minnesota Department of Revenue. Additional agreements regarding audit scope or audit techniques may be made at that time. 41 / Name Merry napkins Title Revenue Tax Specialist Company Minnesota Department of Revenue Date Signed Date Signed In //q/0..3 4 ZO'd 8L:9L £OOZ V l00 8£6196Z199:Xed AIa XVI d800