Baker Tilly credits and incentives success stories - Global electric equipment and service company
Oct 02, 2012
Global electric equipment and service company
Client challenge
Baker Tilly worked with a global provider of equipment and services for electric power systems to open its new testing and R&D center with capabilities previously unavailable in the United States
Baker Tilly approach
Conducted a full-service approach to evaluate this new construction project in Chicago
Client met with team leaders to evaluate cost segregation, energy incentives, state and local tax incentives, R&D, and federal tax
Results
Obtained a $5.1 million Qualifying Energy Project credit
Reclassified 75 percent of assets, yielding a net benefit of nearly $1 million from the cost segregation
Reclassified $1 million in design-related engineering expenditures
Obtained numerous state and local incentives associated with property tax, investment credits, job creation, and sales and use tax