$40 Million City Incentive Contract

40M-incentive-contractA construction materials client purchased several other companies in its industry. The company became plagued with arcane and inconsistent accounting systems, and decentralized operations. For two years following the acquisitions the company consolidated operations. We understood that by centralizing the sales force in a central location, we could obtain a significant recurring annual incentive for the client, an opportunity that the client would not have seen without our introduction of the idea. Today the client is receiving about $2 million per year and will continue to receive this incentive for 20 years to come.

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In Summary, Barnwell Consulting, LLC can:

  • Find state income/franchise tax refunds and have collected millions of dollars in cash refunds
  • Assist with altering corporate structure when good business purpose exists, to help lower state income tax liabilities
  • Assist with FIN 48 accruals, but more importantly with strategies to resolve FIN 48 uncertainty projects that help companies lower the state effective tax rate.
  • Handle complex income and sales/use tax audits and have been successful in eliminating or reducing material assessments
  • Assist clients with SALT issues in acquisitions and divestitures
  • Identify credits and incentives, which fall into two broad categories, statutory and negotiated. With respect to the former, we see our job less as identifying statutory credits – and more focused on whether our client has fully recognized the credit, and obtained the maximum possible benefit.