Financial Services: exchanges, settlements, payments and embedded finance
Personal Property Tax Compliance Services From Lecg Smart Nl [Retail] 04 07 10
1. LECG/SMART
Personal Property Tax Compliance Services
A global expert services company providing expert testimony, authoritative studies, and strategic advisory services to
clients including Fortune Global 500 corporations, major law firms, and governments worldwide. www.lecg.com
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Personal Property Tax Compliance Services
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Transition
Use of our Transition Project Plan (TPP) that specifically focuses on:
Data Source Analysis
Work Process Analysis
Terminology Review
TPP is a comprehensive guide to the overall transition that includes:
Established and definable timelines
Communication protocol
Separation of tasks
Gathering Data
Data request issued based on TPP timeline
Creation of client-specific enterprise of PTMS
Review & verification of imported data with client to ensure accuracy & completeness
24/7 secure, web-based access to returns and tax bills and secure data uploads through STO
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Personal Property Tax Compliance Services
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Rendition Preparation and Filing
Analysis of fixed asset classification
Taxable vs. Non-taxable determination
vs
Abatements, Exemptions, Obsolescence, Special treatment of assets
Inventory Exemptions
Ghost asset studies
Fixed asset revaluation and reclassification studies
Valuation Notices
Process and post valuation notices
Contact tax assessor for missing valuation notices
Analysis of valuation notices vs. threshold tolerances
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Personal Property Tax Compliance Services
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Appeals / Audits
Resolve valuation notice differences with tax assessor informally
Respond to tax assessor inquiries for additional information & resolve audit differences with the tax
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assessor/auditor, informally
Additional representation on formal appeals and audits
Tax Bills
Process and post tax bills
Contact tax collector for missing tax bills
Generate tax bill check request report
Direct Payment of Tax Bills
Use of individual client bank escrow accounts
Monthly bank reconciliations
Timely payment of all tax bills to taxing jurisdictions
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Property Tax Management System (
p y g y (PTMS)
)
LECG-SMART exclusively uses Tax Compliance, Inc.’s , Property Tax Management
System (PTMS), the most powerful and industry-leading property tax software.
Clients also have 24/7 access to returns and tax bills through our secure, web-based
property tax portal, SMARTaxOnline (STO).
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Property Tax Management System (
p y g y (PTMS)
)
Tax Calendar
A sophisticated, easy-to-use tax calendar notifies LECG-SMART of pending deadlines to
facilitate timely compliance and prevent late fees and interest charges.
Instant Data Access and Manipulation
PTMS offers advanced sorting and filtering features to give you instant access to your
data. PTMS keeps a year-by-year history of all property and automatically tracks asset
year by year
additions, deletions, and address changes.
Asset Reclassification
With PTMS, LECG-SMART can easily find and “fix” incorrectly classified assets to
ensure proper depreciation/valuation which translates directly to lower tax bills
depreciation/valuation, bills.
User Defined Asset Valuations
Up-to-date depreciation tables for local jurisdictions are included with PTMS. In addition,
PTMS allows LECG-SMART to create and use its own depreciation tables to more
accurately reflect the fair market value of your assets.
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Property Tax Management System (
p y g y (PTMS)
)
Ghost Assets Identified
PTMS filters allow LECG-SMART to exclude from your tax returns those assets that are retired but
still in your fixed asset database. Ensuring you pay no tax on assets you no longer have.
Overvalued Assets Identified
PTMS calculates and compares LECG-SMART’s opinion of the taxable value of your assets with the
assessed value returned from the assessor’s office. PTMS automatically alerts LECG-SMART to
assessor s LECG SMART
any overvaluations by the assessor.
Tax Estimates and Accruals
PTMS calculates tax estimates based on the projected assessed value of your assets for easy,
precise accruals
accruals.
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Client Experience
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Types of Clients Industry Specialization
Large domestic and
g Leasing
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multi-national companies
Insurance and Financial
Middle-market companies Services
Closely-held and Retail
family-owned businesses
Healthcare
Start-ups of all sizes
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Life Sciences – Biotech/
Pharmaceutical
Manufacturing
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Selected Property Tax Client Experience
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Ace Hardware Linens-n-Things
Aramark LVMH – Moet, Hennessy, Louis Vuitton
Ball Horticultural Company National Envelope
Bally Total Fitness New York & Company
Best Buy Olympus
Circuit City Siemens
CoActiv Capital Partners Trans World Entertainment
ConocoPhillips Tween Brands
DEB Shops ULTA Cosmetics
Dollar Tree Stores Unisys
First American Equipment Finance United Retail G
Group, Inc
Helzberg Diamonds United States Cold Storage
Limited Brands WMS Gaming
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Property Tax Client References
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Mr. Michael Butler Mr. Nicholas C. Atocha
Director, Property/Sales & Use Tax Director of Tax
Limited Brands, Inc. Louis Vuitton North America
Three Limited Parkway 625 Madison Avenue, FRNT 3
Columbus, OH 43230 New York, NY 10022
614.415.4048 212.931.2177
Ms. Sue Hom Ms. Lisa McCoy
Director of Tax Director of Taxes
New York & Company Dollar Tree Stores, Inc.
450 West 33rd Street 500 Volvo Parkway
New York, NY 10001 Chesapeake, VA 23320
212.884.2130 757.321.5324
Mr. Lonnie Lawton Ms. Lu Murphy
Chief Financial Officer Senior Director, Sales & Local Tax
Helzberg Diamonds
g Bally Total Fitness Corporation
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1825 Swift 8700 W. Bryn Mawr Avenue
North Kansas City, MO 64116 Chicago, IL 60631
816.627.1282 773.399.7665
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SALT Client Recognition
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SMART has been preparing our sales and use tax returns
Helzberg Diamonds has enjoyed a business
for over four years now, and I want to take a moment to
relationship with SMART for the past 25 years.
thank the entire SMART Compliance Team for all you do
SMART provides Helzberg Diamonds with a full
service property tax compliance program and also behind the scenes to take the detailed tasks required
assists us with tax planning for our new stores We
stores. each and every month and produce such high quality
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have been extremely satisfied with the quality of the work. For the many returns that get prepared and sent by
service that we have received from SMART and the SMART, we get very, very few notices from any state. We
professionalism of the individuals that we have dealt are grateful for the service you perform on our behalf and
with. We have also been very pleased with the fact look forward to next year.
that our account has been serviced by a very stable
staff over the past few years. The individuals on the Jeff Mastin, Tax and Risk Manager
SMART team who service our account, have many Welch Allyn, Inc.
years of experience in the business and are very
knowledgeable concerning the various states in which
we operate. SMART has also been very proactive in
maintaining the latest computer technology available AIG has used SMART to prepare amended state income
and does an excellent job of keeping us advised of tax tax returns related to federal tax audits for five closed tax
law changes and the most advantageous position for years.
years In the process of selecting a vendor to perform this
our company to take in regards to those changes. service, we met with three of the Big Four firms, SMART,
and Jefferson Wells. In addition to the obvious reduction
I would highly recommend Smart and Associates to in fees between the Big Four and SMART due to the
any company who has a need for a very difference in business models, we were also impressed
knowledgeable, professional and service-oriented by the professionalism and approach that SMART brought
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property tax compliance provider.
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table.
Lonnie J. Lawton
James R. Gruber
CFO
American International Group, Inc.
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How We Differentiate Ourselves
Experience
Significant Managing Director/Manager touch on all engagements
Well-developed skills in process & technology with extensive experience in property tax policy
policy,
valuations & appeal procedures
SAS 70 Type I and II Certification
Organizations displaying only the Type I review, show that they have internal controls in place.
Our Type II certification means that our controls have been tested and are working as designed.
Best-In-Class Process
A mature, robust property tax outsourcing methodology that has been refined and field-tested
with our significant base of demanding clients
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How We Differentiate Ourselves
Premier Technology
LECG-SMART exclusively uses Tax Compliance Inc.’s, Property Tax Management System
(PTMS), the most powerful and industry-leading property tax software
industry leading
24/7 secure, web-based access to returns and tax bills through SMARTaxOnline (STO)
Smooth Transition
A streamlined transition approach that minimizes disruption of client operations and delivers an
immediate focus on communication, relationship building, and value
Attractive Fee Structure
A comprehensive fee structure that details all activities
No “hidden fees”
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State and Local Tax Services
Personal Property Tax Compliance
Personal Property Tax Consulting
Real Estate Tax Consulting
Sales and Use Tax Compliance Services
Sales and Use Tax Consulting
State Income/Franchise Tax Compliance
State Income/Franchise Tax Consulting
Tax Technology Consulting
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About Us
In March 2010, LECG, LLC (XPRT:NASDAQ) and SMART Business
Consulting and Advisory, LLC merged. The combined LECG/SMART is a
global expert services and business advisory firm with more than 1,100
professionals in 39 offices worldwide.
Our clients include Fortune Global 500 corporations, major law firms and
local,
local state and federal governments and agencies worldwide
worldwide.
LECG/SMART has experience in consumer products, energy, entertainment,
media and sports, environment and natural resources, financial services,
healthcare and life sciences, insurance, petroleum and chemicals,
professional services, real estate, telecommunications, and transportation.
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Who We Are
Litigation, Forensics & Finance
Advisory Services
Bankruptcy & Restructuring
Forensic Accounting
Finance, Valuation & Damages
Insurance Claims
Intellectual Property
Legal Technology & Analytical Consulting
Economics & Dispute Resolution
Antitrust & Competition Policy
Economic & Financial Regulation
International Arbitration
Labor & Employment
Securities Litigation
Consulting & Business Advisory
Actuarial Services
Executive Solutions
Financial Solutions
Fi i l S l ti
Outsourcing Solutions
Compensation & Benefits Consulting
Technology Solutions
Governance Assurance & Tax
Audit & Attest Services (through SMART and Associates, LLP)
Internal Audit & Risk Management
International Tax
Federal Tax
State & Local tax
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Our Global Footprint
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Global resources to serve large multinational clients
International infrastructure optimizes experts’ skills and income potential
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Contact Information
P.J. Olzen, CMI Ted Kolman, MBA
Managing Director Senior Manager
847.558.5679 972.668.3704
p
polzen@lecg.com
@ g @ g
tkolman@lecg.com
James Petersen, CIAO John Langman
Director Senior Manager
847.558.5680 847.558.5681
jpetersen@lecg.com jlangman@lecg.com