Beverage manufacturer & distributor
The beverage manufacturer and distributor produces a broad range of soft drinks, beverages and mixers. Their plant in Sacramento, California was facing a significant escaped tax liability as a result of a recent audit.
Faced with the results of a personal property tax audit, identification of ways to combat the audit findings was the starting point. There were several factors the auditor was not considering in the initial audit escaped assessments including obsolescence of the equipment and issues caused by out of date inventories.
Altus Group secured over $350,000 of tax savings through correcting the cost basis of the assets, identifying unrecorded disposals, and proving the existence of economic obsolescence of certain property.
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