Wiseco Piston Company, the world leader in the manufacturing of hi-performance forged pistons, turned to Skoda Minotti when they sensed that they were overpaying on personal property tax.
Performed a refund analysis to quantify how much tangible personal property Wiseco actually owned versus how much tax it was paying.
This revealed that Wiseco had not been claiming the “For Storage Only” exemption it was entitled to and, therefore, was significantly overpaying inventory tax.
Skoda Minotti submitted a refund claim with the State of Ohio on behalf of Wiseco Piston to procure refunds for the two previous years.
As part of the refund process, Skoda Minotti handled all of the State’s numerous requests for proof over that two-year period.
Wiseco Piston received a $150,000 tax refund from the State of Ohio for the two previous years
Accurate tax returns were filed for the current year
Wiseco Piston’s tax payments will now be $60,000 - $70,000 less per year.