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County finds sources of extra revenue

Almost 100 sites generating tax revenue that should be coming to Washington County were identified during an in-house audit.
The share of many taxes distributed to the local government in Tennessee is based on the point of sale location, or situs. Incorrect situs information in the Department of Revenue’s system can result in the local portion of taxes being sent to the wrong government.
A team led by Director of Finance and Administration Mitch Meredith reviewed approximately 5,600 returns in a one-year lookback to ensure the local options sales tax and Hall income tax were properly allocated. The Hall income tax is imposed on individuals and entities receiving interest from bonds, notes and dividends from stock.
Address information from the reports was first confirmed by the Property Assessor’s Office, and then mapped by the GIS Department and compared to the corresponding jurisdiction the state has designated to receive the revenue.
Meredith said the four sales tax accounts and 92 Hall income tax accounts they believe are misidentified were submitted to the Department of Revenue upon the audit’s completion last month.
“If there is disagreement, we may have to provide additional evidence,” he said.
No financial information was included in the reports, so the amount of an adjustment is unknown until the discrepancies are confirmed.
Leaders took on the project to ensure the full amount of tax revenue is available to help support a number of needs in Washington County.