Rewards of Merit: Multidisciplinary Approach to Reducing Overall Tax Liability
Rewards of Merit: Property Tax Multidisciplinary Approach to Reducing Overall Tax Liability Client: A large publicly traded oilfield service company engaged Merit to undertake a holistic review of state and local tax issues to identify all possible cash tax savings. Results for client $18 M One-year Cash Tax Savings Developed Strategyfor Accrual Projection https://youtu.be/j8eKUsrTWsE Challenge: […]
Rewards of Merit: Slashing a Public E&P’s Tax Liability by Two-Thirds
Rewards of Merit: Property Tax Slashing a Public E&P’s Tax Liability by Two-Thirds Client: A small public E&P company engaged Merit to reduce its tax liability, facing the twin challenges of rapidly depleting wells and increasing property tax assessments. Results for client 66% Reduction in Tax Liability Challenge: Client’s wells were in Louisiana, where assessments […]
Rewards of Merit: Identifying Repeatable Cash Tax Savings Opportunities
Rewards of Merit: Sales & Use Tax Identifying Repeatable Cash Tax Savings Opportunities Client: A public oilfield service company engaged Merit to uncover all possible ways to improve profit margins and reduce tax liability, allowing it to sustain operations amid a severe industry downturn. Results for client $5.2 M Two-year Cash Tax Savings Developed Strategy […]
Rewards of Merit: Minimizing Taxable Values in Down Market
Rewards of Merit: Property Tax Minimizing Taxable Values in a Down Market Client: A large E&P company with a presence in counties across East Texas, Wyoming and Louisiana engaged Merit to help improve its tax liability and planning. Results for client $1.7 M Annual Cash Tax Savings Implemented Strategies to Eliminate Annual Tax Liabilities Challenge: […]
Rewards of Merit: Defending a Midstream Giant Under Audit
Rewards of Merit: Sales & Use Tax Defending a Midstream Giant Under Audit Client: A large, publicly traded midstream energy company, engaged Merit for audit defense and use tax compliance review. Results for client 97% Reduction in Audit Liability $6M Eliminated Tax Exposure Challenge: Client faced a $9million use tax liability from a single state […]
Rewards of Merit: Addressing an Operator’s Overpayments Holistically
Rewards of Merit: Sales & Use Tax Addressing an Operator’s Overpayments Holistically Client: A large, independent oil and gas operator in Colorado, engaged Merit to review its sales tax compliance after a key official left the company. Results for client $4M Refund Claim Filed 90% -> 20% Reduction in Number of Purchases Paying Sales Tax […]
Rewards of Merit: Differentiated Approach to Achieve Fair Valuation
Rewards of Merit: Property Tax Differentiated Approach to Achieve Fair Valuation Client: A large oil and gas operator had significant Louisiana holdings that were overvalued by the state. However, local parishes were reluctant to allow the appropriate reductions. Results for client $3.7M Assessment Reduction $410K Annual Tax Savings While Avoiding Litigation Challenge: Client’s assets were […]
Rewards of Merit: Wiping Out Half of an OFS Company’s Assessment
Rewards of Merit: Property Tax Wiping Out Half of an OFS Company’s Assessment Client: After emerging from bankruptcy, a publicly traded oilfield services company engaged Merit seeking cash tax savings opportunities. Results for client $4M Annual Tax Savings 51% Reduction in Annual Assessed Values Challenge: Client saw its tax liability rising as the stock price […]
Rewards of Merit: Saving an Oil & Gas Major Millions Annually
Rewards of Merit: Property Tax Saving an Oil & Gas Major Millions Annually Client: A major oil and gas producer with assets in the Permian Basin engaged Merit, seeking to reduce its costs and tax liabilities. Results for client $9.8M Annual Cash Tax Savings Challenge: Client sought ways to adjust 2020 assessments on its wells […]
Rewards of Merit: Reducing Valuations for Underutilized OFS Equipment
Case Study: Property Tax Reducing Valuations for Underutilized OFS Equipment Client: A small private oilfield service equipment company engaged Merit to prove the diminished value of underutilized and idle assets. Results for client 72 Percent Reduction in Tax Liability $2.2M Reduction in Overall Value Challenge: Client was effectively generating no income from equipment. Client needed […]