After emerging from bankruptcy, a publicly traded oilfield services company engaged Merit seeking cash tax savings opportunities.
Annual Tax Savings
Reduction in Annual Assessed Values
Conducted thorough review of repeatable opportunities for reducing annual tax liability.
Discovered previous consultant was using inflated equipment values to negotiate tax assessments.
With deep oil and gas expertise, Merit applied a more appropriate valuation methodology:
Used market values instead of valuing equipment at cost.
Secured adjustments for obsolescence and decreased asset utilization.
Provided assessors with extensive supporting documentation.