What? You didn't pay sales tax on your property preservation services?
Approximately 45% of property preservation and inspection services should be taxed in accordance with state and/or local statutes. If you are servicing properties/loans within multiple states, you may be creating nexus and have sales/use tax liability.
Be aware – there are no statutes of limitation on collecting sales or use tax! If you are a vendor OR servicer and need help determining sales & use tax requirements for inspections, preservation, and REO services by state, email us at email@example.com. We can help!