How BDO Steered an International Automotive Supplier Toward Significant Exposure Mitigation and Tax Savings
Top 3 Areas of Impact
Secured more than $8 million in state tax credits.
Reduced potential penalty and interest for unclaimed property by at least 75%.
Identified sales and use tax refund claims of more than $450,000.
Summary
BDO’s initial project to mitigate unclaimed property exposure for an international automotive supplier laid the foundation for a broader relationship. Today, the client leverages BDO’s extensive tax knowledge for a wide range of tax services, including state income and indirect taxes, federal income taxes, and transfer pricing.
For the initial project, the client — a multibillion-dollar supplier to the automotive market — needed a highly responsive tax advisor experienced in unclaimed property audits to assist its corporate tax department.
At risk for a wide range of tax obligations, the client also may have been overlooking opportunities for millions of dollars in tax credits on its state tax returns.
Results
“By bringing a practical approach with our tax services — that is, addressing not only our client’s specific needs but also identifying missed opportunities — we have built a relationship of trust that continues to grow over the years.”
Paul Lukasik
State & Local Tax Principal
Contact Us
Learn how our State & Local Tax team’s wide array of services can help you mitigate exposure and identify missed credit and refund opportunities.
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