Baker Tilly credits and incentives success stories - Global electric equipment and service company

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