Programs: Escheatment

State government budget woes have resulted in increased pressure to find new methods for raising revenue from corporations. Most states have begun focusing on enforcing escheatment laws, whereby the state takes possession of “unclaimed property.” This focus has recently turned on manufacturing and distribution companies, with $10 of millions at stake for larger companies. The exposures for Credit Managers are the net credit balances that exist for some customers – the states want that money. This program reviews the underlying theory, laws, compliance procedures, risks of non-compliance, evaluation of your company’s potential liability, and strategies for reducing this liability.

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