The Secret Behind Sales Tax: Roof Inspection Report Inaccuracies Can Lead to Thousands Lost on Every Claim
Sales tax is determined by jurisdiction. If you get the jurisdiction wrong, your whole estimate could be wrong by hundreds if not thousands of dollars.
Why is sales tax so hard to nail down? Sales tax, just like building codes, are ruled by the invisible boundaries of various jurisdictions within state lines. It may seem simple like using a postal zip code or city name would tell us the information we need to know. However, this could not be more wrong. Sales tax can vary by over 5% if you get the jurisdiction wrong.
According to internal calculations based on available city, county, state, and federal data, relying on the city name listed in a US postal address leads to 40-50% of the properties having the wrong jurisdiction assignments.
To put it simply, if one gets the jurisdiction wrong, they also get the sales tax, code items and overall roof estimate wrong. For insurance companies who take on thousands of claims a day, these small errors will add up to thousands if not millions of dollars incorrectly spent. For contractors, getting the sales tax wrong could mean the difference of having extra money in your pocket for a steak dinner or paying for the roof from your own pocket.
How can insurance adjusters and contractors ensure that they have the correct sales tax information?
Roof inspection apps and other technologies are paving the way for automated and accurate data to assist in the roofing claims process. Technology not only enables us to save time on roof estimates, but it also allows for accurate information to flow into each claim. Accuracy, transparency, trust, customer satisfaction, and money savings are the elements that companies can look for when utilizing technology to its highest potential.
OneClick Code is a trusted data partner, dedicated to streamlining the code-sourcing process for all parties in the roofing industry while also increasing efficiency and transparency for all stakeholders in construction and restoration. They have the only platform to have blazed the trail for data automation of jurisdictional authority for building codes, permit fees, taxes, and manufacturer specifications required for any address nationwide. OneClick Code has been serving customers in the contracting, insurance, and claim adjusting fields by providing instant access to trusted roofing codes, in the click of a button. Offering unique reports that can be easily shared between all stakeholders in the roofing claims industry, OneClick is adding value to all parties and empowering customers to save time and money on every claim. Welcome to restoration intelligence, automated. To learn more, visit our websitewww.oneclickcode.com.