Vice President, Tax

COMPANY BACKGROUND

Summit Carbon Solutions (SCS) is fast growing company founded in 2021 which is developing and building the world’s largest carbon capture project in the upper Midwest over the next several years.  We are a dynamic and highly entrepreneurial team that is expanding rapidly.  We are looking for smart, flexible, and high-energy individuals to join our team. 

About Summit Ag Investors

Summit Ag Investors is Summit Agricultural Group’s dedicated third-party asset arm that links our robust network of operators, ag-centric innovators, and savvy investors, allowing us to effectively search out and capitalize on superior agricultural investment opportunities.

THE OPPORTUNITY

Since its June 2021 launch, Summit Carbon Solutions has already grown to over 50 team members and expects to continue its rapid expansion.  The opportunity exists for a new financial leader to join a dynamic management team and ownership group to integrate and scale the organization, build a high-functioning tax function, and create meaningful value.  The new Tax VP will serve as a true partner to the Chief Financial Officer.

KEY RESPONSIBILITIES

The Vice President, Tax (“VP Tax”) reports directly to the Chief Financial Officer (“CFO”) and is a role of high visibility and importance to the company. A very significant portion of SCS business involves the generation and monetization of Section 45Q tax credits for permanently sequestering millions of tons of CO2 per year.  The VP Tax will oversee the department and ensure all tax operations are accurately prepared and carried out. This role will be responsible for guiding the Company’s tax compliance, tax reporting, planning, and accounting related to income tax. They will need to interface with finance management and other departments as well as collaborate with external contacts as needed. 

The successful candidate will be responsible for the following aspects of the Tax function, including but not limited to:

Tax Planning

  • Evaluate and analyze Tax Equity Financing alternatives and structures
  • Review tax research and memoranda. 
  • Review proposed transactions to properly advise management of tax consequences.
  • Oversee development and maintenance of Tax Department policies and procedures in connection with tax strategy.
  • Review US legislative proposals/changes and other significant worldwide tax proposals/changes and provide updates for senior management.
  • Identify tax risk areas and work with other functional areas to ensure appropriate steps are taken to minimize risk.

Tax Return Compliance

  • Review Federal and state income tax returns for completeness and planning opportunities.  Review cash tax forecasts. 
  • Review alternative tax positions to determine the most appropriate, cost-effective filing position. 
  • Lead technology and process improvements to improve tax return compliance process. 
  • Provide technical advice related to income and non-income tax issues as requested.
  • Review federal, state, local, and partnership returns.
  • Review estimated tax payments.

Financial Reporting

  • Review SCS’s accounting for income taxes, and uncertain income tax positions for financial statement purposes. 
  • Analyze the tax aspects of financial projections and forecasts. 
  • Lead technology and process improvements to ensure that accurate, timely information is provided to the SCS financial reporting group.
  • Preparation and/or review of tax disclosures in all SEC and other external reports.

Tax Audits and Controversies

  • Lead the coordination and implementation of audit strategies. 
  • Stay abreast of legal developments and industry positions to accurately evaluate options and responses to requests for information.
  • Develop tax strategies to reduce or mitigate tax controversies.  Manage significant tax related audits and litigation matters.  For other audits and litigation matters, provide support and expertise in drafting agreements, responses in audits, and court filings.
  • Act as counsel for rulings, advance pricing agreements or similar arrangements.  Manage preparation and filing of requests for tax rulings, technical advice, or similar matters.
  • Support large projects from a tax controversy standpoint; bring additional credibility / experience assisting in this space.

Leadership and Development

  • Lead, mentor, and develop U.S. income tax group and other professionals. 
  • Direct external tax advisors on a project-by-project basis.
  • Build and maintain relationships within the Finance groups, as well as throughout the organization to help facilitate timely and accurate tax compliance reporting and execution of tax strategy.
  • Must recruit, hire, train staff, evaluate employee performance, and initiate promotions, transfers, and disciplinary action.

PROFESSIONAL EXPERIENCE/QUALIFICATIONS

The VP Tax will have significant experience in establishing strong business and tax processes, budgeting, strategic frameworks, driving critical financial decisions, assessing corporate model changes, and timely financial and management reporting.

Other professional experiences/qualifications include:

  • Significant experience in the tax credit finance and tax equity space.  Experience with Section 45Q credits strongly preferred
  • Experience with large capital projects with multibillion dollar fixed assets and multi-jurisdictional tax compliance and reporting requirements
  • Knowledge of voluntary and compliance tax credit markets
  • 10+ years of multinational corporate tax experience in a public, pre-IPO, or private organization. Also, tax accounting, tax compliance, and a deep understanding of tax planning and structuring, 
  • 10+ years in a combination of a major corporation, tax equity financing organization and either a law firm or an accounting firm.
  • Extensive experience working with reporting companies, managing outside counsel, and working with auditors.
  • Leadership experience including supervising, mentoring, and leading projects with little supervision.
  • Ability to identify issues quickly and manage key risks.
  • Possess great judgement. Innovative, takes initiative, highly motivated, and a change agent.
  • Has executive presence and strong presentation skills.
  • Ability to collaborate effectively with senior management, internal business units, and external advisors.
  • Outstanding analytical and problem-solving skills.
  • Insightful, with a point of view on relevant issues.
  • Strong coaching and mentoring skills with a focus on people development, knowledge sharing, and encouraging the team to grow and take on new responsibilities.
  • Excellent verbal and written communication skills; listens effectively.

EDUCATION

An undergraduate degree: CPA or JD/LLM preferred.

COMPENSATION

For a qualified individual who meets these specifications, SCS is prepared to offer a competitive compensation package.

Job Type: Full Time
Job Location: Greater Des Moines

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