June 13, 2012 // Franchising.com // Indianapolis, IN - RetroTax is pleased to announce its partnership with Midtex Oil, L.P. The Texas petroleum wholesale company signed an agreement that will allow RetroTax to administer programs to generate federal and state tax credits and incentives. Midtex Oil specifically qualifies for the Federal Empowerment Zone (FEZ) and Work Opportunity Tax Credit (WOTC).
“Upon hearing about these tax credits that our company was eligible to receive it made my decision easy. Why not take advantage of every opportunity to save your company money, we are all in this to be successful any way we can.” Scott Schwind, CFO, Midtex Oil, L.P.
“We are very excited about our partnership with Midtex Oil, a leader in the petroleum wholesale industry,” said Alan Newcomb, CEO of RetroTax. “With Midtex Oil, we aim to ensure the company receives every available tax credit and incentive to which it’s entitled. We look forward to helping the partners reduce their tax liability while demonstrating our commitment to excellent customer service.”
For over 20 years, RetroTax has helped businesses from small and medium to Fortune 500 companies capitalize on the multiple tax credit opportunities statutorily available to them on a state and federal level. Federal tax credits such as Gulf Opportunity Zone, HIRE Act, Renewal Communities (RC), Veterans Opportunity to Work Act (VOW Act), Indian Tax credit and Federal Empowerment Zones can make a significant impact on a company’s bottom line.
With its beginnings in 1966, Midtex Oil has grown to become one of Texas' foremost petroleum wholesale companies. Today, Midtex Oil employs hundreds of people across the South-Central and Eastern regions of Texas. A family-owned business, Midtex Oil provides quality fuel and lubricating products as well as a convenient shopping experience at its Fischer Markets, Pit Stop and Petro Pantry Food Marts. For more information, please visit www.Midtex Oil.com.
Established in 1996, RetroTax® helps businesses navigate complex legislation associated with finding and securing federal and state tax credits. These tax credits can be based on geographic regions in which your business operates, or on the demographic characteristics of your employees. In addition to finding and acting upon current and retroactive program eligibility, RetroTax® helps businesses establish policies and practices to create greater opportunities for receiving additional tax credits in the future. For more information, please visit www.retrotax-aci.com.