Accountant (Tax) -State and Local Tax

JOB SUMMARY 

Performs activities to support compliance with accounting and reporting for state and local income taxes in accordance with Accounting Standard Codification 740 (ASC 740). Leads calculations and recording of separate and consolidated state and local tax provisions, evaluates state deferred income tax assets/liabilities, state effective tax rates and state income tax disclosures.  Research state and local income tax laws and Generally Accepted Accounting Principles (GAAP), Securities and Exchange Commission (SEC) and Federal Energy Regulatory Commission (FERC) guidelines for complex tax accounting and reporting issues. Assists with special tax projects. Supports overall tax team as needed.

ESSENTIAL DUTIES & RESPONSIBILITIES

• Maintains all records associated with the filing of multiple state and local tax returns; creates any schedules and reports required to support the filing of these tax returns; determines estimated tax payments.
• Responsible for accounting and reporting for all state current and deferred income taxes in compliance with ASC 740, including preparation of monthly or quarterly accounting documentation (journal entries, account reconciliations, etc.) and preparing information for financial statement disclosures.
• Prepare supporting schedules for FERC income tax reporting function in accordance (ASC 740, The Code of Federal Regulations (CFR) 18, and FERC guidance under AI9530000.
• Supports tax planning by providing state and local income tax budget and forecast information; reviews budgets and forecasts to assure appropriate accounting and tax compliance.
• Provides support to external and internal auditors by responding to questions, preparing schedules, etc. in the course of quarterly reviews and annual audits.
• Analyzes state tax accounts to assure proper accounting of transactions; resolve any accounting issues. 
• Researches state tax laws, SEC, FASB and FERC guidance on state income tax issues; recommends company positions and drafts position papers to support.
• Supports other tax department projects and initiatives and performs other ad hoc work as needed. 

REQUIREMENTS 

• Bachelor's degree in Accounting. Finance or other business-related field.
• Master degree in accounting, taxation or business and/or CPA preferred.
• Minimum of three (3) years of experience in tax, accounting or finance including two (2) years of income tax experience.
• Knowledge and understanding of accounting and tax best practices. 
• Experience with ASC 740 income tax accounting preferred.
• Utility experience preferred.
• Multi-state accounting and reporting experience preferred.
• PeopleSoft or PowerPlant experience preferred.
• Ability to adhere to tight reporting deadlines.
• Ability to research and analyze complex data and provide recommendations to solve problems or improve processes.
• Ability to effectively communicate (verbally and in writing) information to all levels (internally and externally) so that others not familiar with the area are able to understand information being provided.
• Possess sound analytical and problem-solving skills.
• Understanding of the importance of solid documentation and ability to apply these concepts.
• Intermediate knowledge of Microsoft suite of products and demonstrated ability to utilize to complete daily assignments.
• Applicants must be authorized to work in the United States for any employer. ITC does not sponsor employment visas, such as H-1B or TN visas.