Founded by Steven McMillan, Leslie Smith, and Gerald Peterson back in 1987, today the Auditex consulting company is currently the #1 in the United States!
Auditex was formed by three directors who were really keen on providing excellent services to small businesses, which could make them proud. This commitment to quality and exemplary service has helped them to bring their business to its present form of a holding company with six subsidiaries.
The company was founded to provide tax audit defense and recovery services for clients seeking assistance with state & local tax audits on a turnkey basis. Located in NYC, the first office consisted of 900 square feet of leased office space in a two-story office park. The Principals relied on credit card accounts to fund the start-up of the Firm.
At this early date, Auditex established its hallmark of capitalizing on state & local tax litigation by aggressively pursuing franchise tax refunds. This year became a great start for the Company and we ended it with 15 employees and high qualification in tax and accounting services.
In 1991, our company managed to achieve tremendous success on the market of tax and accounting services.
Using professional marketing initially and a network of contacts, our client numbers increased at a level that required rapid and continued recruitment within the business. The 1990s became a period of Auditex corporate culture establishment, which was based on:
In the fall of 1995, we began recruiting new employees directly from university campuses. The following year, these graduates will become the Company's first recruiting class. Today, it is the single largest source of entry level employees with the philosophy of Auditex.
The same year, we completed our first purchase of a pending tax claim. From this initial purchase, Auditex will go on to purchase millions of dollars in tax claims from clients and competitors, assisting them in rapidly liquidating claims.
In December 1991, Auditex engaged its 300th client, Dallas-based CompUSA, Inc. The company realized its first fee in excess of $1,000,000 from a single project. We ended this year with 47 employees and over $5.2 million in annual revenue.
In 2003, we continued our cooperation with American tax management companies and became strategic partners with Brakel & Associates.
In January 2003, our company was converted to LLP status giving greater protection to the business and greater transparency to clients. The firm extended its network further still by acquiring ReTax company in Seattle, WA (October 2003) and ProAccountant offices in Los Angeles and San Francisco, CA (June 2005).
Also in May, Auditex purchased the largest tax claim in its history, an almost $10 million sales tax refund claim, from a company in receivership. The transaction marks the maturing of our company’s tax claims purchasing operations, a unique business that assists clients with rapid liquidation of their tax claims.