Manager, Income Tax

Position overview

The position leads the income tax team and ensures compliance with income tax filing and accounting requirements for North American Porsche entities; to establish and maintain a process related to filing the consolidated 1120 and 1065’s; to assist in planning for and analyzing the tax impact of business transactions, law changes and tax strategies with respect to federal and state transactions; to ensure compliance with tax planning strategies; to research tax law; to support business units with income tax related decisions and/or operational decisions that impact income taxes; to partner with the Finance & Accounting units to ensure processes provide the data necessary for tax reporting purposes.

Roles & responsibilities

Primary responsibilities:

Tax Accounting

• Manage preparation of annual IAS 12 calculations for North American consolidated group.
• Reconcile deferred tax balances relating to Lease Portfolio annually.
• Preparation and review of quarterly tax provision including preparation of the quarterly internal and external financial reporting disclosures as well as the continuing documentation of tax positions pursuant to IAS 12.
• Investigate and solve technical tax and accounting problems.
• Document tax research and accounting conclusions in memorandum.
• Analyzes proposed tax laws and calculate impacts to the Company as well as the implementation of new tax laws.
• Translates technical tax matters in non-technical terms for other reporting units of the company, and support tax-related issue resolution.
• Coordinate income tax system needs and suggest process improvement.
• Manage and maintain relationships with business units and auditors including investigating, concluding and responding to questions regarding tax matters.
• Ensure that tax reporting requirements are addressed by non-tax units of the company.

Tax Planning & Special Projects Lead various tax department projects and initiatives.

• Research and resolve issues that arise in the compliance process.
• Gather and structure financial and tax return data to support tax planning initiatives.
• Work with Tax Director to identify areas of exposure.
• Assist the Tax Director with research and special projects as issues arise.
• Monitor and reconcile the lease portfolio depreciation reports from the PwC system. A complete and detailed understanding of the underlying data in the FiServ system is necessary to determine the correct tax liability.

International Tax

• Manage preparation and filing of the Canadian Federal income tax returns.
• Manage preparation and filing of the Canadian Provincial income tax returns.
• Manage preparation and filing of Forms 1118, 5471, 5472, 8865 and 8858 for US reporting.
• Manage preparation and calculation of quarterly forecast and estimated payments.
• Manage preparation and filing of Advance Pricing Agreements for the North American Group.
• Assist in preparation and review of Transfer Pricing reports for the North American Group.

Federal Tax Compliance

• Manage and review the preparation and filing of the consolidated Federal 1120.
• Manage and review the preparation and filing of separate company Federal 1120’s.
• Manage and review the preparation process for state-specific consolidated Federal 1120’s.
• Manage and review the preparation and filing of consolidated Federal 1065.
• Manage and maintain Federal tax depreciation for fixed assets and Lease Portfolio.
• Manage preparation and distribution of quarterly forecast and tax sharing calculations.
• Coordinate the monthly tax-filing calendar for income tax requirements.
• Researches various tax issues to arrive at the most advantageous but proper treatment under the law.

State Tax Compliance

• Manage and review the preparation and filing of unitary state income tax returns. Coordinate with VWGoA on required super unitary filings.
• Manage and review the preparation and filing of separate company state income tax returns.
• Manage and review the preparation and filing of state partnership and LLC returns.
• Manage and maintain State tax depreciation for fixed assets and Lease Portfolio.
• Review returns for technical accuracy for law changes and filing positions.
• Research and implement changes in state legislation requirements.

Tax Audit Support

• Manage the timely and efficient resolution of notices and audits for North American entities.

• Assist in data collection and manage responses to information requests.
• Manage relationship between auditors and company personnel.

Tax Internal Control Management

• Coordinate and manage department internal control systems and annual testing procedures.
• Work with all international tax professionals on the world-wide tax internal control programs.

Business Unit Support

• Reconcile general ledger accounts and resolve discrepancies.
• Support 1099 reporting for the North American subsidiaries.
• Support fringe benefit reporting by preparing company car inclusion calculation, gross up calculation and employee income inclusions in conjunction with payroll department for the North American group companies.
• Work with the accounting personnel to ensure entries are properly & timely recorded for tax payments and refunds.
• Consult and train business unit personnel with respect to income tax compliance needs.

Education:

• Bachelor’s degree in accounting, CPA required. MST preferred.

Experience:

• 10+ years of corporate (and/or) public accounting income tax experience required.

Skills:

• Excellent personal computer skills required: Access, Excel, Word, RIA RS, tax research software. SAP experience a plus.
• Excellent organizational skills required with an ability to meet highly detailed reporting requirements.
• This individual must have good communication skills and the ability to work within a team.

Schedule/Shift: Hybrid Schedule

The salary range for this role is $130,000-$160,000. However, it is important to note that at Porsche, compensation range is dependent on geographic location. Individual salaries within each range are determined through a wide variety of factors including but not limited to education, experience, knowledge and skillset. Porsche reviews compensation regularly and may adjust base salaries to reflect market competitiveness.

In addition to salary, individuals may be eligible for a discretionary performance bonus. Our full suite of benefits includes:

• Paid Vacation
• Paid Holidays
• Paid Sick leave
• 401(k) match
• Medical, dental and vision coverage
• Tuition and certification reimbursement
• Life Insurance
• Short and Long Term Disability Coverage
• Subsidized gym membership program
• Subsidized Porsche and VW leasing programs

Physical requirements

• Must be able to lift 15 pounds at times.
• While performing the duties of this job the employee is required to talk, hear, walk, sit, stand, climb stairs on occasion with prolonged periods of sitting at a desk and working on a computer.
• Must be able to effectively work and complete tasks in an open office/noisy environment.

Direct reports

• Income Tax Compliance Manager