The City of Newport Beach re-established HdL Companies as its sales tax audit and management consultant.
Newport Beach Re-Engages HdL
(March 16, 2020) — The City of Newport Beach recently re-engaged with HdL Companies to provide the City with needed actionable analysis and insights.
From 2012 to 2019, the City of Newport Beach relied upon HdL to audit and recover sales and use taxes that were underpaid or misallocated by retailers or the California Department of Tax and Fee Administration (CDTFA). After working with another vendor for one year, the City ultimately decided to re-establish HdL as its sales tax audit and management consultant.
According to a staff report presented to City Council, the key reason for switching back to HdL was “HdL’s reports and analysis are more robust and useful for the City sales tax forecasting.” Additionally, over the term of HdL’s previous contract with Newport Beach the firm recovered more than $3 million in misallocated taxes, representing a return on investment of 650% after all fees paid for the service. “Since the COVID-19 pandemic began, HdL has been a leader in hosting informational webinars and maintained a COVID-19 resource website to help cities better understand the fiscal impacts of the pandemic.”
“Our job is to make sure the City gets the tax revenue it’s due to pay for vital public services that make Newport Beach such a great place to live, work, and visit,” said Andy Nickerson, President/CEO for HdL
View the full press release HERE on PublicCEO.