WMS Overview of Services


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WMS Overview of Services

  1. 1. wms Statement of Corporate Qualifications M Business Incentive Portfolio Management Offices Headquarters 3321 Doris Avenue Ocean, NJ 07712 P: (732) 531-7117 F: (732) 531-1488 National Capital Area Office 8484 Georgia Avenue Suite 330 Silver Spring, Maryland 20910 P: (301) 495-6655 F: (301) 495-7828 www.waltonmanagement.com
  2. 2. wms M Executive Summary Executive Summary Walton Management Services, Inc. (WMS) is in the business of business incentives. Founded in 1981, WMS fills a highly specialized corporate niche, securing clients millions of dollars every year by pooling from the billions of dollars available in government funding that they are entitled to, but often overlooked. WMS achieves the greatest results on behalf of its clients – from all industry sectors and all sizes throughout the United States – by providing the program administration, systems processing, and consulting services that companies need in today’s economy in order to enhance financial performance and improve their competitive advantage in the marketplace. As a full-service Business Process Outsourcer (BPO), WMS improves the financial positions of its clients by: Identifying opportunities and managing client participation in tax incentive and grant programs; Ensuring client compliance with government regulations, reporting, and documentation-filing requirements; Quantifying the projected value of and processing incentive applications; Monitoring government delivery and performance; Satisfying internal client project-tracking needs; and Providing clients with access to our proprietary web-based processing solution, NetCentives™. The WMS Team brings a strong combination of content knowledge and process skills that are crucial in maximizing a client’s financial incentive portfolio. The WMS Team consists of specialists with disciplines in tax, finance, human resources, information technology, and real estate. Team expertise covers the full range of hiring and non-hiring business incentives, economic development, workforce development, and electronic transaction processing. Our high client retention rate attests to the value and satisfaction of our services. -1- www.waltonmanagement.com
  3. 3. WMS wms Corporate Philosophy M WMS is committed to helping businesses and communi- “For the past number of ties grow. WMS administers programs that award incentives years, my company has to companies who hire individuals from certain targeted been using Walton groups, who live in neighborhoods targeted for revitalization, Management to process and who meet other federal, state and local government state and federal tax criteria. credit programs. Besides helping secure extensive As the leading independent business incentive consulting tax credits, the company firm in the country, WMS’s priority is building long-lasting has a hands on approach relationships and providing superior customer service. WMS which fits in well with combines best practices in program administration with our fast paced work customized processing services. WMS’s expert understand- environment.” ing of how government works enables it to represent its clients’ needs before state and federal employment agencies – Human Resources and in Congress. We are equally comfortable assisting our Director, clients navigate Capitol Hill, the U. S. Department of Labor, Rainbow Apparel the IRS, and all 50 state capitals Companies Locations Walton Management Services, Inc. (WMS) is headquartered in Ocean, New Jersey. WMS also has a full-service office in Silver Springs, MD, located close to the Washington D.C. Metropolitan area. Our presence near the Nation’s Capitol enables us to stay close to key legislative issues, maintain access to federal decision makers, and ensure that our opinions are heard on evolving legislation. WMS also maintains satellite offices in Wisconsin, Florida, Maryland, New Mexico, and Washington, DC. www.waltonmanagement.com -2-
  4. 4. M WMS wms WMS Why Choose WMS? M Walton Management Services (WMS) experience in the quot;I would like to thank Work Opportunity Tax Credit Program is unsurpassed as is Walton Management for our administration of federal, state, and local tax credit and doing such an exceptional incentive programs. For nearly 30 years, our high-volume job locating and obtaining process discipline has offered both reliability and flexibility: tax incentives for our The client’s tax credits and incentives are ensured, and our organization over the past programs are implemented with virtually no perceptible 6 years. There have been change to the client’s existing business processes. numerous savings identified by your Nearly three decades experience in incentive administration, company that we were coupled with our incentive-processing solution, allows WMS not aware of, and we have to provide an exceptionally personal and timely service. benefited immensely. Your staff has been extremely WMS OFFERS: diligent and we are very Dedicated consultants who are experienced in all facets L pleased with your follow- of client implementation, program administration, and up, especially in verifying account maintenance; that our locations are compliant in fulfilling new Account managers who are assigned to each client to L hire requirements. Your maximize one-to-one service and results; assistance with L A straightforward, time-tested system that fits any identifying the various company’s operating environment; credits available in the state enterprise zones, as No start-up costs, per-location processing charges, or L implementation fees; well as the federal work opportunity credits A non-intrusive approach to managing your account, L have been extremely from screening new hires to securing credits, refunds advantageous to our or- and grants that enables WMS to capture the greatest ganization. We are also incentives savings possible; enthusiastic about partici- Identifying, securing and processing all federal, state L pating in the pilot program and local business incentives; for electronic filing of forms. We look forward Ensuring downstream compliance with regulatory, L not only to many more reporting, and documentation filing requirements; years of continued L Maintaining relationships with government incentive savings, but also to your coordinators to ensure the client’s award submissions excellent service and and certifications are processed quickly; and professionalism.quot; Providing real time, and easy-to-understand reports of L – Chief Financial Officer your account status and satisfying client internal project Jetro Enterprises tracking needs. www.waltonmanagement.com -3-
  5. 5. M WMS wms WMS The Solution: NetCentives™ M Underpinning our service is the industry’s best – and to our “Thank you very much knowledge, ONLY – web-based incentive processing solution. Walton Management for This solution, NetCentivesTM, is built on open standards, web- your help in securing the based, e-8850 ready, and designed by in-house IT Training Grant worth specialists specifically for incentive processing. We under- hundreds of thousands of stand the value of business incentives in helping companies dollars. Do you realize you achieve their full potential, and we have developed a method have single-handedly paid of administering tax incentive programs that is easy for any for the costs of our entire company to integrate into its operations. HR Department for the year and helped me create NetCentives™ supports online applicant screening, the first ever HR Profit compliance monitoring and reporting, forms completion, Center!” payroll queries, and e-processing of wage data. It also allows clients to perform on-line account management and view – Human Resources the status and results of the work that WMS performs on Director, the client’s behalf. Rainbow Apparel Companies, Inc. WITH NETCENTIVES™, OUR CLIENTS CAN: Electronically transfer data. Process federal and state new hire incentives and manage pre-hire and post-hire HR functions. Securely view your account status, monitor and update your business incentive applications, certifications, awards, rejections, dollar values, and wage data. Monitor and update your financial incentive applications, certifications, awards, rejections, and dollar values, more quickly and easily than telephone, fax, or other approaches. Use a standard web browser to access our suite of programs. NetCentives™ includes reports with flexible filters so that the client can quickly obtain the data it needs when the client needs it. The client may save its reports for its internal use right from the WMS interface: no special software needed. And, at the same time, WMS account representatives con- tinue to serve as points-of-contact with the information that the client needs and expect of WMS. www.waltonmanagement.com -4-
  6. 6. M WMS wms WMS Service Capabilities M OVERVIEW: quot;Your staff at Walton Management Services Walton Management has one of the nation’s broadest sets the standard for federal, state, and local business incentive practices. customer service. They We differentiate ourselves from traditional accountancy and are diligent, proactive, other consulting firms by not only identifying state and local and always have the incentive opportunities, but by processing all of the necessary interests of GENERAL documentation to enable clients to claim the incentives. PARTS/CARQUEST uppermost in their minds. FEDERAL TAX CREDIT PROGRAMS Walton Management has Federal wage based tax credits are offered by the Federal obtained more tax credits Government to employers depending on where they do in one quarter than our business and their employee demographics. prior consultant has obtained in 4 Years. THE WORK OPPORTUNITY TAX CREDIT (WOTC) Program, Keep up the good work.quot; allows companies to claim a tax credit of up to $2,400 per eligible employee. The Long-term Assistance Tax Credit – Tax Director (formerly WTW) allows a two year credit of up to $9,000 General Parts/ per eligible employee. CarQuest www.waltonmanagement.com -5-
  7. 7. M WMS wms WMS M FEDERAL EMPOWERMENT ZONE (FEZ) and RENEWAL COMMUNITY (R/C) TAX CREDIT PROGRAM - allow a tax credit of up to $3,000 per eligible employee for employers hiring individuals who live and work in geographically designated urban and rural areas. INDIAN EMPLOYMENT CREDIT (IEC) PROGRAM - Allows federal tax credits for employers hiring Native Americans or the spouse of a Native American. This program entitles the employer to claim a federal tax credit of 20% of the first $20,000 of wages and medical insurance expense. www.waltonmanagement.com -6-
  8. 8. M WMS wms WMS State Tax Incentive Programs M All 50 states offer a myriad of hiring and non-hiring State Tax Incentives to encourage economic growth. Credits range from job creation, job training, investment, point of hire to specific economic development zone credits. Because many of the non-WOTC business incentives that we process deal with new hires or client location characteristics, much of the information we obtain when managing the WOTC process can be used to executive these additional State Tax Incentives. WMS works as an extension of our client’s internal depart- ments to identify, process and administer their full incentive potential. WMS then administers the identified incentives on behalf of our client. WMS tax specialists have close working relationships with economic development authorities and state revenue departments in all 50 states to ensure a seamless process in claiming the benefits for our clients. STATE TAX INCENTIVES INCLUDE: Enterprise Zone: Specific geographic locations that offer an assortment of incentives including: investment tax credits, wage tax credits, property tax abatements, low income financing, gross receipt, tax exemptions and sales and use tax refunds and credits Training Grants: Income tax credits and wage subsidies of up to 100% of training expenses or 50% of wages for an employer hiring qualified individuals , while providing job training Sales Use: Refunds and tax credits based on certain qualified purchases State Point of Hire: Wage based tax credits for hiring individuals from targeted groups such as: welfare recipients, disabled workers and employees who reside in economically distressed areas Property Tax Credits: Exemptions and abatements from taxation on property, both real and personal Investment Tax Credits: Tax credits based on investments on qualified machinery and equipment Sellable Tax Credits Many states offer the ability to sell unused tax credits for cash www.waltonmanagement.com -7-
  9. 9. M WMS wms WMS Negotiated Government Incentives M Each year governments award billions in incentives to spur economic growth. WMS offers a comprehensive Government Incentive and Site Location Service that compliments your business goals. Government Incentives can minimize your tax liability and offset the high capital costs associated with new, expanding or relocating business sites. Based on your key business drivers, WMS will perform an assessment of your company's business activities and customize a program that will suit you for the long-term. INCENTIVE PACKAGES CAN BE NEGOTIATED FOR: Expansions or Upgrades of an Existing Facility Mergers or Acquisitions Consolidations/Closures Site Locations for a New Facility Relocations of Existing Facility Employee Training or Retraining Incentive recovery is highly time sensitive. It’s important for our clients to call in the pre-planning stages of their business activity. The earlier the negotiation process starts, the greater the incentive package that can be negotiated. GOVERNMENT INCENTIVES AVAILABLE INCLUDE: Cash Grants Employee Tax Credits Employee Training Grants Wage Subsidies Property Tax Abatements Investment Tax Credits Sales Tax Exemptions Low-Cost Financing Utility Rate Reductions Fee Waivers Infrastructure Grants Fast Track Permitting Inventory Tax Reductions Subsidized Land www.waltonmanagement.com -8-
  10. 10. M WMS wms WMS Technical Capabilities M WMS has in-house staff capability to work with clients and partners in an e-environment. Our industry standard servers are scalable and fault tolerant. WMS uses a custom Java/SQL Service Application that complies with open standards. Our staff has hands-on experience in Enterprise Resource deploy- ment, platform compatibility issue resolution, legacy system integration and process design. The HRIS/payroll platforms and financial management enterprise systems that we have worked with include: PeopleSoft, SAP, JD Edwards and home-grown client HR and Financial systems. Members of WMS staff have years of hands-on experience providing IT consulting services to both industry and government. This includes assisting clients to improve business performance by planning for and implementing financial management systems; working with clients to choose and implement electronic commerce technologies; and helping clients in implementing packaged and enterprise resource planning solutions. WMS has an unqualified commitment to technological and process innovation, perfecting program administration strategies and using Commercial-Off-The-Shelf (COTS) or custom software applications (as appropriate) to maximize client’s incentive portfolios. Our technical capabilities differentiate us significantly from our competitors: we invite you to allow us to demonstrate our web-based system, integration capabilities, and staff qualifications in information technology. www.waltonmanagement.com -9-
  11. 11. M WMS wms WMS Client Performance Delivered M Here’s just a sampling of what we’ve saved our clients: L $2M plus in retroactive Mississippi Jobs Tax Credits for a major automotive equipment supplier L $2.5M in California Enterprise Zone (CAEZ) Hiring Job Credits for a major financial institution L $2M plus in Tennessee State Franchise Tax Credits for a call center operation L $1.2M in Ohio State Job Training Credits L $1M in Native American Tax Credits for a Fortune 100 Corporation L $4M in WOTC tax credits for a retailer L $2M in retroactive Enterprise Zone Credits for an auto- motive manufacturer Protected client’s rights to federal hiring credits that L allowed a restaurant chain to open a new location within one year $2M plus in Federal Empowerment and D.C. Enterprise L Zone Credits for a hospitality service firm www.waltonmanagement.com -10 -
  12. 12. M wms WMS Industry Leadership M Walton Management Services, Inc. (WMS) Partners with the IRS The following work with the IRS is testament to WMS’s ability to offer clients an unparalleled understanding of the WOTC program lifecycle and reflects our commitment to technological innovation, and to providing a cutting-edge service to the nation’s employers, while maintaining close working relationships with government agencies. WMS was selected to assist the U.S. Department of Labor and the IRS Electronic Tax Administration in their efforts to comply with the Government Paperwork Elimination Act of 1999., which requires federal agencies to accept electronic documents and signatures. WMS was also selected to work with the IRS to develop an electronic version of the IRS Form 8850 for the WOTC program. WMS is currently assisting the IRS to analyze the entire WOTC filing process from certification request through to validation of award. WMS is continuing to work with the IRS Electronic Tax Administration and the Department of Labor’s Employment Tax Administration to set the standards that will enable automation of the WOTC programs and our clients have participated in successful pilot programs that take advantage of our technology. www.waltonmanagement.com -11 -
  13. 13. M wms WMS M Appendix WORK OPPORTUNITY TAX CREDIT (WOTC) PROCESS Walton Management’s process for WMS completes the process, from identifying and certifying WOTC the initial receipt of the paperwork candidates is straightforward, through the receipt of awards and ensuring that maximum credits certifications are captured on your behalf. L L Data entry and account Client completes and returns to maintenance WMS quot;Quick Startquot; form and signed agreement Maintaining relationships with L state WOTC coordinators to L WMS assigns account rep ensure your certifications are processed quickly L Account rep provides client locations with start-up materials, Managing receipt and L including program introduction submission of compliance forms letter for client hiring locations and documentation Two forms are forwarded to L Providing easy-to-understand L WMS corporate office weekly, reports of client account status either directly from client hiring and progress locations or through client corporate office. L Monitoring legislation affecting the WOTC and related incentive programs Quarterly reporting showing L guaranteed tax credits obtained L Monthly, quarterly, and/or ad-hoc reports of pending certifications, certifications received, and program compliance statistics NetCentives™ set up. NetCentives™ web based software application provides real time reporting, accessible through a standard web browser www.waltonmanagement.com -12-
  14. 14. M wms WMS STATE TAX INCENTIVE PROCESS L WMs receives HQ Client attaches the L and Branch credit schedules Locations of all and files the return client facilities L WMS performs WMS prepares an analysis of tax the applications, credits incentives certifications and in all 50 states claim forms L L WMS Generates a report itemizing all the credits client qualifies for www.waltonmanagement.com -13- -
  15. 15. M wms WMS NEGOTIATED GOVERNMENT INCENTIVES AND SITE SELECTION PROCESS L WMS Researches site WMS administers L incentives. Client incentive package decides whether to on behalf of client pursue the project L WMS develops WMS coordinates location analysis. reporting w/ WMS negotiates company’s internal package with departments. government officials Client receives L incentive package L Client receives offer letter. WMS coordinates application process. WMS ensures government approvals www.waltonmanagement.com -14-