Customer Success Story: Sun Microsystems Relies on BNA Corporate Tax Analyzer to Optimize Income Tax Results
Challenge:
Track and manage utilization of complex tax attributes to ensure accuracy and optimum use.
Solution:
BNA Corporate Tax™ Analyzer
Results:
Saves a week or more of time for IRS audit support. Enables Sun to strategically utilize offsets and credits such as NOLs, FTCs, GBCs, and charitable contributions to maximum benefit for the bottom line. Using BNA Corporate Tax Analyzer puts Sun on the same page as the IRS since BNA Corporate Tax Analyzer is the only corporate tax software used by IRS Appeals and LMSB.
With over 27 years of innovation, Sun Microsystems delivers software, systems, services, and microelectronics that help companies, individuals, and governments around the world save time and money. The company applies this same thinking to its tax challenges by using BNA Corporate Tax Analyzer software to automate key efforts around corporate income tax management.
Optimizing the Utilization of Tax Attributes
Greg Brown, senior tax manager at Sun, has used BNA Corporate Tax Analyzer for seven years, first at StorageTek (purchased by Sun), and now at Sun. "Before BNA Corporate Tax Analyzer, we used Excel to track minimum tax credits and GBCs. But the complexity of rules and calculations for credit utilization makes it very challenging and time-consuming to do in Excel."
Based on a recommendation from a colleague, Brown began using BNA Corporate Tax Analyzer and now relies on it for tax attribute management, audit support, analysis, and to double-check tax preparation results.
Sun uses BNA Corporate Tax Analyzer to accurately and quickly track usage of tax attributes. With BNA Corporate Tax Analyzer, the company can strategically utilize offsets and credits such as NOLs, FTCs, and GBCs to maximum benefit for Sun's bottom line. For example, when tax law changed to allow carryback losses going back to 2001, Sun used BNA Corporate Tax Analyzer to help it file for refunds going back multiple years.
Streamlining the IRS Audit Process
Using BNA Corporate Tax Analyzer, Sun experiences a faster resolution of IRS audits. "It used to take me a month to close out after receiving the RAR, including several weeks just to perform the computations. With BNA Corporate Tax Analyzer, I don't have to waste time manually calculating and checking because I'm confident that the RAR will accurately reflect adjustments. BNA Corporate Tax Analyzer saves at least a week of time," explained Brown. Using BNA Corporate Tax Analyzer puts Sun on the same page as the IRS since BNA Corporate Tax Analyzer is the only corporate tax software used by IRS Appeals and LMSB.
Analyzing the Impact of FIN 48 Reserves
BNA Corporate Tax Analyzer also helps Sun perform FIN 48 analyses and provide documentation for the external audit team to review. BNA Corporate Tax Analyzer enables Sun to see what the ultimate impact of FIN 48 liability will be so that the company can determine precisely what is required for its reserves - freeing up capital where possible.
An Invaluable Tool
"BNA Corporate Tax Analyzer is worth the investment - the tool is invaluable! We haven't seen any other tool that can track attributes and their utilization as well as BNA Corporate Analyzer does," stated Brown. Sun also appreciates the excellent support and training it has received from BNA Software. "I wouldn’t go anywhere else," added Brown.
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About BNA Corporate Tax Analyzer
Top corporations such as Alcatel-Lucent, Honeywell, Northrop Grumman, Sun Microsystems, and Western Refining, as well as the IRS, trust BNA Corporate Tax™ Analyzer. It’s the only software that automates the calculation and tracking of carryforwards and carrybacks of NOLs, FTCs, AMT, GBCs, charitable contributions, and more over multiple years. With its comprehensive set of calculations, compliance, reporting and analysis, planning, and audit capabilities, BNA Corporate Tax Analyzer can enhance or replace risky, time-consuming spreadsheets, saving tax departments hundreds of hours of time and effort every year.
Learn more about BNA Corporate Tax Analyzer »
About BNA Software
Founded in 1983, BNA Software develops professional software solutions for tax, accounting, and financial planning professionals. With category-standard software including BNA Corporate Tax™ Analyzer, BNA Income Tax™ Planner, and BNA Fixed Assets™ Software, BNA Software is the solution of choice for accounting, law, and financial planning firms, as well as corporations of every size. More than 60,000 customers including the IRS, depend upon BNA Software for the highest degree of tax, regulatory, and compliance expertise available in the market.
