03/09/1999 03730

CORPORATION TAX OFFICER 1

DEFINITION: This is journeyman level technical work in analyzing and examining corporation tax reports to determine tax liability in the Department of Revenue.

An employee in this class is responsible for analyzing and examining less complex corporation tax reports to determine the correct tax liability of corporations. Work involves the analysis of balance sheets, profit and loss statements, and other schedules within the tax report to insure that the reported tax shown on the return is correct. This work is distinguished from the higher level class because the employee is not responsible for approving or disapproving exemptions of corporations for processing, researching and developing, and manufacturing; and approving or disapproving exemptions of corporations for asset claims. Work also is distinguished from the higher level class because the employee is not responsible for approving or disapproving apportionment fractions of multi-state corporations. As employees gain experience, they receive more difficult taxing assignments. Although work is governed in some detail by laws, regulations, and procedures, judgement is required in the interpretation and application to individual cases. Work is performed under the direction of a Corporation Tax Supervisor. Instructions are received in writing and verbally through discussions with the Corporation Tax Supervisor.

EXAMPLES OF WORK: Analyzes and examines the less complex tax reports to determine the correct tax liability of smaller corporations.

Analyzes and examines financial statements and stockholders' reports to substantiate any discrepancy found on the tax report.

Corresponds with taxpayers to obtain additional required information.

Appraises value of capital stock by using standard references.

Renders information pertaining to tax laws, policies and procedures to tax consultants and corporation representatives by telephone and correspondence.

Computes corporation tax figures through the review of Corporation Tax reports.

Operates the Personal Computer to input corporation tax figures on the Corporation Tax forms.

Reviews and taxes Specials filed by Corporation Tax reports such as Out of Existence, Special Withdrawals, Mergers, Special Dissolutions and Bankruptcies.

Attends pre-settlement conferences to obtain tax information from corporations.

Initiates resettlements of the tax liability of the less complex tax reports based on additional information.

Interprets State and Federal Corporation Tax laws and regulations in determining tax liability.

Reviews final reports filed by the smaller corporations (based on Capital Stock value) to determine both the correct tax liability and whether the taxpayer has fulfilled all the requirements to be removed from the Department's active records.

Performs related work as required

REQUIRED KNOWLEDGE, SKILLS AND ABILITIES: Knowledge of the principles and practices of accounting and auditing.

Knowledge of the principles of corporation finance.

Knowledge of State and Federal Corporation tax laws.

Knowledge of operating Personal Computers.

Ability to perform detailed work involving written or numerical data and to make arithmetical calculations rapidly and accurately.

Ability to critically analyze state and federal corporation tax reports.

Ability to establish and maintain effective working relationships with corporation representatives, tax consultants, employees in the Department of Revenue, and the general public.

MINIMUM EXPERIENCE AND TRAINING: One year as a Financial Programs Trainee;

                                                                                                                                                               or

One year of professional accounting experience affording knowledge of Federal and State corporation tax laws; and a Bachelor's degree with major course work in accounting or business administration, including twelve (12) credits in accounting;

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Any equivalent combination of experience and training which includes twelve (12) credits in accounting.