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 to Maintain Valuation Controls & Estimate Annual Tax Liabilities
Challenge:
Client sought to minimize current tax liability to maintain margins and defend its share of an increasingly lean oilfield service market.
Client needed a strategy to predict future tax liability, despite appraisal volatility from country appraisal districts (CADs).
Client needed to develop s strategy for estimating future property taxes.
Merit Action Plan:
Negotiated directly with CADs on client’s behalf after conducting a thorough review of appraisals.
Completed work before CADs issued appraisal notices, lowering the basis for negotiations and avoiding formal public hearings.
