TaxConnections


Professional Summary

Bilingual tax executive with over fifteen years of tax, legal, financial, and business modeling experience, I offer expertise in all aspects of tax accounting in accordance with ASC 740. Broad based experience resolving corporate, partnership, and individual tax issues on the federal, state, and multinational levels.

Knowledgeable in U.S. international tax concepts and procedures including foreign tax credit planning, reorganizations, Subpart F income, transfer pricing, and permanent establishment issues.

Currently searching for a tax leadership role. Please feel free to contact me at 704-968-5656 or josebacallao@gmail.com.

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Languages

  • English
  • Spanish

Industry Experience

    • Gaming and Hospitality
    • Gaming
    • Biotechnology
    • Energy, Utilities
    • Rental Services
    • Public Accounting Firm


Experience

Station Casinos
Las Vegas, Nevada, USA 89135
Director of Tax
2017 - 2018
• Responsible for the preparation of the interim and year end income tax provision for the publicly held corporation during its first two years as an SEC filer. This included all tax related disclosures on the company’s SEC Form 10-K and 10-Q financial statements.
• Presented results directly to the CFO and Audit Committee.
• Created all new internal controls to satisfy Sarbanes-Oxley 404 requirements.
• Modeled the impact of tax law changes including the Tax Cuts and Jobs Act. Prepared cash tax and effective tax rate forecasting models.
• Oversaw the preparation of federal and state income tax returns by an external service provider and led the effort to transition the tax return preparation in-house.
• Provided tax advice on corporate, partnership, and family matters including tax deductions for energy efficient commercial buildings and charitable contributions.
• Prepared the accounting for the Tax Receivable Agreement. Worked directly with external service providers on the preparation of tax basis balance sheets and fair market value calculations to support the tax receivable agreement liability.
• Reviewed quarterly partnership tax distribution calculations prepared by external consultants.
• Successfully negotiated with the IRS and the Culinary Union on Gaming Industry Tip Compliance Agreements for 20 gaming properties across Nevada.
• Led initiatives to reduce state and local taxes.
Aristocrat Technologies
Las Vegas, Nevada, USA 89135
Director of Tax, Americas
2014 - 2017
• Head of Tax for the entire Americas region with six direct reports and played a leadership role in the $1B acquisition of Video Gaming Technologies.
• Executed an Internal Revenue Code Section 338(h)(10) election on the $1B acquisition resulting in a step-up in tax basis from treating a stock acquisition as an asset acquisition for tax purposes.
• Successfully defended a three-year income tax audit with no changes. Responsible for all tax examinations including the negotiation of tax settlements.
• Prepared and reviewed half year and annual income tax provisions. Maintained deferred tax accounts in accordance with ASC 740 and regulatory requirements.
• Directed transfer pricing compliance and policy for the Americas region by supporting, updating, and defending transfer pricing policies and methodologies. Ensured all intercompany transactions were accurately reported for tax purposes.
• Successfully negotiated a bilateral APA with the IRS and the Australian Tax Office.
• Created a multi-entity tax sharing agreement for the proper allocation of income taxes across multiple subsidiaries.
• Multi-state tax experience managing income tax, property tax, and sales and use tax filings in over 30 states.
• Managed the preparation of the U.S. research and development tax credit claim.
Illumina
San Diego, California, USA 92122
Senior Manager - International Tax
2013 - 2014
• Managed the international tax group with two direct reports. Responsible for the foreign tax disclosures reported on SEC Form 10-K and 10-Q and reported directly to the Director of Tax.
• Managed and reviewed the quarterly and annual income tax provisions for all foreign subsidiaries including the provision to return true ups and deferred tax account reconciliations.
• Prepared complex repatriation models to analyze and manage the impact to the global effective tax rate. Included complex modeling to analyze Subpart F income and foreign tax credits.
• Tracked and updated earnings and profits calculations and foreign tax pools.
• Managed the international and U.S. income tax compliance reporting related to foreign entities.
• Directed transfer pricing compliance and policy worldwide.
• Evaluated permanent establishment exposures and calculated the adjustments to existing and new ASC 740-10 (formerly FIN 48) reserves and associated interest and penalties.
• Managed the research and development tax credit claims in the U.S. and U.K.
• Successfully defended the international aspects of an IRS income tax audit without any proposed adjustments from the IRS.
Duke Energy
Charlotte, North Carolina, USA 28202
Manager of Tax, Income Tax Operations
2010 - 2013
• Responsible for the foreign tax disclosures reported on SEC Form 10-K and 10-Q. Analyzed and reviewed the ASC 740 income tax provision calculations each month for Duke Energy’s foreign subsidiaries (approximately 100 legal entities) and domestic renewable energy businesses (approximately 175 legal entities).
• Managed the full income tax life cycle with six direct reports for the Commercial Power and International Energy business segments.
• Interacted with accounting, legal, and treasury personnel in Argentina, Brazil, China, Ecuador, El Salvador, Guatemala, Peru, and Saudi Arabia to collect tax related information.
• Led the Finance Department’s role in opening a Representative Office in China.
• Provided support for the international tax aspects of the U.S. consolidated income tax return by preparing detailed analysis of the Foreign Tax Credit, OFL, ODL, Subpart F, and transfer pricing calculations.
• Prepared income tax forecasts with complex cash repatriation models to analyze and manage the impact to the global effective tax rate.
• Provided guidance to non-U.S. personnel regarding U.S. GAAP treatment of tax related issues.
• Tracked and updated earnings and profits calculations and foreign tax pools.
• Evaluated uncertain tax reporting positions under ASC 740-10 (Formerly FIN 48).

Sunbelt Rentals
Fort Mill, South Carolina, USA 29715
Income Tax Manager
2008 - 2010
• Managed the income tax reporting, planning, and compliance function.
• Managed an IRS audit, from examination to appeals, which covered income, employment, and excise taxes by gathering, analyzing, and submitting data requested by the auditors.
• Managed the preparation of federal and state income and franchise tax returns by outsourced service providers.
• Prepared FAS 109 tax provision schedules and performed quarterly tax rate analysis. Analyzed and tracked tax accounts and related financial statement disclosures.
• Reconciled and prepared tax basis balance sheets.
• Prepared forecasts of taxable income and estimated tax payments.
• Managed the implementation of a like-kind exchange program that fully automated the fixed asset tax basis calculations and generated $80 million in deferred tax savings.

KPMG
Charlotte, North Carolina, USA 28269
Tax Analyst
• Prepared federal and state tax returns for various bank and financial institutions under KPMG’s financial services tax group.
• Prepared federal income tax return filings of foreign operations including Forms 5471, 8858, and 8865.
• Performed tax research and writing on international tax issues including sourcing rules, income tax treaties, and withholding requirements.
• Prepared individual income tax returns for executives of corporate clients.

Education

MST, Taxation 2013
University of Denver
Denver, Colorado, United States
BS, Accounting 1996
Saint Peter's College
Jersey City, New Jersey, United States

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