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Engineered Tax Services Acquires Subcity
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Subscribe02 AUG 2024 / M&A UPDATES
Engineered Tax Services (ETS), headed by CEO Julio Gonzalez, has announced at the annual HABU Accelerator Conference that it has acquired Subcity. The merger will merge Subcity's technology, team, and extensive database of local, state, and federal economic incentives and tax credits with ETS's operations to identify personalized incentive opportunities for small and medium-sized businesses, continuing ETS's commitment to providing valuable resources to assist businesses in understanding and benefiting from tax credits, incentives, and grants.
During the annual HABU Accelerator Conference for innovative CPA and accounting firms, Julio Gonzalez, founder and CEO of Engineered Tax Services (ETS), announced the acquisition of Subcity. This strategic move integrates Subcity's technology, team, and extensive database of local, state, and federal economic incentives and tax credits into ETS's operations.
Both organizations share a vision of democratizing access to tax incentive programs, traditionally dominated by Fortune 500 companies and large public firms. By combining human expertise with algorithmic automation, they aim to identify personalized incentive opportunities for millions of small and medium-sized businesses nationwide, many of which have previously overlooked or lacked the resources to apply for these programs.
Julio Gonzalez stated, "I founded Engineered Tax Services to bring tax equality to all small business owners in the United States by serving as a resource for tax credits, incentives, and grants to the accounting community. Subcity’s mission and technological expertise align seamlessly with the Engineered Tax Services mission that began decades ago. Together, we can equip business owners with the knowledge and expertise to ensure they benefit equitably from the government incentives and tax credits designed to fuel their success."
Subcity has digitized nearly 2,000 economic incentive programs across the U.S., identifying specific criteria such as NAICS codes, locations, and investment thresholds required for qualification. Their comprehensive database covers opportunities ranging from real estate and renewable energy to workforce training grants and sales tax exemptions.
This acquisition continues ETS's commitment to providing valuable resources to the accounting community and their clients. In recent years, ETS has expanded its offerings by acquiring The Growth Partnership, The Rosenberg Survey, ABLE CRM, INSIDE Public Accounting, Tax Credit Advisors, and Salazar Grant Services, reinforcing its mission to provide tax equality to all citizens deserving of these benefits.
Alex White, CEO and co-founder of Subcity, expressed enthusiasm about the merger, stating, "At Subcity, we’ve helped hundreds of clients identify and file tens of millions of dollars’ worth of economic incentives and tax credits since we launched a few years ago, but we’ve been missing the deep engineering expertise and energy modeling and nationwide professional service that Engineered Tax Services exemplifies. We are extremely excited to work with Julio and join the Engineered Tax Services team to help thousands of CPA and accounting partners, their business clients, and entrepreneurs of all sizes identify, claim, and collect billions in economic incentives and tax credits over the coming years."
This strategic acquisition positions Engineered Tax Services to further enhance its service offerings, providing comprehensive support to businesses seeking to navigate and benefit from the complex landscape of economic incentives and tax credits.
Until next time…
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