Tax Associate

DEPARTMENT NAME FLSA STATUS POSITION STATUS
Houston Corporate Accounting Department Exempt New Position
Job Description
Job Summary:
This position is responsible for the following tax compliance and tax advisory tasks for Mitsubishi Corporation Americas (MCA) and Mitsubishi International Corporation (MIC).

• State income and indirect tax compliance, including tax return preparation, tax payments, and handling tax audits, under the supervision of the senior manager. For several states’ income tax filings, unitary tax returns including other affiliates are required. This position is also responsible for the administration of SharePoint, which we use as a portal site to efficiently communicate with our affiliates and subsidiaries.
• Federal excise tax compliance for the import business of chemical products, including tax return preparation, tax payments, and handling tax audits, under the supervision of the senior manager.
• Tax advisory to business departments in the Houston branch office of MIC/MCA mainly related to alternative energy, chemical, and oil businesses, under the supervision of the senior manager. This includes but is not limited to tax advisory regarding various climate change-related tax credits made available by the Inflation Reduction Act (IRA) enacted in August 2022.

Key Accountabilities:
45%
State and local MIC / MCA pro forma income tax compliance including:

• Preparation of apportionment factors, state adjustments taking into account each state’s conformity to the federal Internal Revenue Code, income tax settlement with unitary group members, estimated tax payments, including calculations, and extensions, and other miscellaneous state taxes such as DC Ball Park Fee, LA Business Tax and Nevada Commercial Tax
• Understanding of compliance for unitary income tax filings, responsible for the preparation of the unitary Michigan income tax return, and interacting with an external tax advisor for the preparation of other unitary filings.

15%
Compliance with state and local indirect tax filings mainly for personal property tax on fixed assets including:

• Preparation of property tax renditions accurately,
• Keeping track of receipts of appraisal notices,
• Reconciliation of appraisal notices received and the renditions filed,
• Taking necessary actions to correct discrepancies if any,
• Making tax payments, and
• Maintenance of the internal property tax manual.

10%
Other related tasks for state and local income and indirect tax audits including:

• Provide support for tax audits,
• Provide research for legislative changes, tax planning, etc.

10%
Compliance with federal excise tax including:

• Making semi-monthly tax payments,
• Preparation of quarterly return.

Other related tasks for federal excise tax including:

• Tax advisory to business departments in the Houston branch office of MIC/MCA,
• Providing support for tax audits.

15%
Tax advisory to business departments in the Houston branch office of MIC/MCA working as a contact point in between them and the Tax Department in New York. This will include:

• Providing support to new alternative energy projects by giving advice on items such as the applicability of various climate change-related tax credits, method of monetizing tax credits, etc.,
• Providing support to existing chemical and oil businesses from federal, state, and local tax perspectives.

5%
SharePoint administration for

• Generation of tasks to MC U.S affiliates,
• Addition and deletion of MC U.S affiliates and partnerships owned 50% or more, and
• Communication with the vendor (Ernst & Young) to correct or improve system functionalities.

100% TOTAL
Job Qualifications
Key Qualifications:

• OneSource income tax preparation software experience.
• Microsoft Office with proficiency in Excel and Word.

Years of Experience:

• 3-5 years of related tax experience.

Education:

• College degree in accounting.

Other Information
Manages People with Full Authority:

• No

Reports to:

• Houston Corporate Accounting, Department Manager

DISCLAIMER: The duties listed are general in nature and represent a portion of the duties/responsibilities performed. These are not meant to be exclusive to the job. The organization retains the right to add or modify duties at any time.