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 Strategy for Accrual Projection
Challenge:
Client’s total taxable valuations and liabilities exceeded reasonable levels given current share price.
Client needed to identify ways to maintain a level of profitability amid diminishing market activity across the industry.
Merit Action Plan:
Negotiated directly with taxing jurisdictions on both property tax and sales and use tax.
