Case Study: a multibillion-dollar supplier to the automotive market achieves $8 million in tax credits with BDO

a multibillion-dollar supplier to the automotive market secures $8 million in tax credits with BDO

An international multibillion-dollar supplier to the automotive market engaged BDO's State & Local Tax services for help with an unclaimed property audit. The company needed a highly responsive tax advisor to manage this exposure and was also potentially overlooking significant tax credit opportunities on its state returns.

BDO provided a practical approach, first addressing the immediate audit to reduce potential penalties and interest by at least 75%. This built a foundation of trust, allowing BDO to expand its services and identify missed opportunities. The results were substantial: BDO secured over $8 million in state tax credits and identified more than $450,000 in sales and use tax refund claims for the client.