Accelerated Genetics
Trusted tax services
$
in net tax savings
0
A global supplier of bovine genetics and animal health products needed a new tax services provider to get its business operations on track following a year-long audit.
The Challenge
Accelerated Genetics lacked the time, resources and experience to manage a state and local tax audit. Facing hurdles in state and local tax exemptions that its previous accounting firm could not properly address, Accelerated Genetics sought a new accounting partner with expertise in Wisconsin tax code as well as agribusiness.
The Solution
Accelerated Genetics turned over its audit process to Wipfli so it could focus on its own day-to-day business operations. Through careful analysis of company records, Wipfli helped Accelerated Genetics complete the audit in three months — and adjust an initial $190,000 tax liability to an $85,000 tax refund, with an additional $50,000 in tax refunds for each subsequent reporting period.
Wipfli’s expertise helped us finish the audit in a timely manner, and the results were better than we could have expected.
The results
Drawing on deep knowledge of Wisconsin’s state and local tax codes, Wipfli provided Accelerated Genetics with hands-on tax advising — including guidance on the taxability of specific purchases and exemption standards — that enabled the company to successfully complete its audit and lower its tax liability.
$
starting tax liablity reduced to
0
$
tax refund
0
