ROSELAND, N.J., Oct. 13, 2011 /PRNewswire/ -- ADP ®, a leading
provider of human resource outsourcing, payroll services, tax and
compliance services, benefits administration and accounts payable
solutions, today announced it has acquired privately held WALLACE –
The Training Tax Credit Company, the primary service provider in
the state of Georgia for the
Georgia Retraining Tax Credit. The terms of the transaction were
not disclosed.
Founded by Ray Wallace in 1996
and based in Alpharetta, Ga.,
WALLACE has developed and mastered the tax credit analysis process
for the Georgia Retraining Tax Credit, resulting in a 104-step
process that is regarded as the most reliable and secure method for
gaining the maximum possible tax credits. The process allows
WALLACE experts to help clients understand and maximize the
benefits of their training efforts, as well as work closely with
Georgia State officials to educate them
about their clients' business and training activities. The final
product is a state-approved tax credit that is attached to the
client's tax return.
"ADP's acquisition of WALLACE complements the ADP Tax Credits
and Incentives portfolio with additional high-quality specialists
who have the expertise to maximize the Georgia training credits their clients can
receive," said Rich Schultz, Vice
President, ADP Tax Credit Services. "As a market leader in tax
credits, ADP welcomes this opportunity to provide additional
services for existing and new clients who have a presence in
Georgia."
"We are delighted to become a part of the ADP team because they
have such an excellent reputation and track record in the
industry," said Ray Wallace, founder
and CEO of WALLACE.
"Success in tax credits is a result of specialized expertise,"
said Peter Green, President,
WALLACE. "We are excited to combine our expertise and experience in
the Georgia Retraining Tax Credit with ADP's team of tax credit
experts to best serve current and prospective clients of both
companies."
The Georgia Tax Credit for Retraining of Employees provides tax
credits according to the Georgia Business Expansion Support Act of
1994. The credit supports the profitability and competitiveness of
Georgia's existing businesses by
encouraging workforce development through retraining tax
incentives; helping companies offset the costs of retraining
employees that are affected by the implementation of new equipment
or new technology; and, enhancing the skills of Georgia employees to enable them to
successfully use new equipment, technology or operating systems.
Between 2003 and 2008, corporations with operations in Georgia received $185
million in credits/benefits through the Georgia Retraining
Tax Credit.
ADP has a 32-year track record in tax credits and incentives and
performs approximately 45 percent of annual Work Opportunity Tax
Credit (WOTC) certifications nationwide. It offers a team of
professionals with advanced degrees and certifications in tax and
law, and its proprietary databases cover more than 1,800
government-designated zones and more than 2,300 tax incentive
programs. For more information, please visit
http://www.ADP.com.
About ADP
Automatic Data Processing, Inc. (NASDAQ: ADP), with about
$10 billion in revenues and
approximately 570,000 clients, is one of the world's largest
providers of business outsourcing solutions. Leveraging over 60
years of experience, ADP offers a wide range of human resource,
payroll, tax and benefits administration solutions from a single
source. ADP's easy-to-use solutions for employers provide superior
value to companies of all types and sizes. ADP is also a leading
provider of integrated computing solutions to auto, truck,
motorcycle, marine, recreational vehicle and heavy equipment
dealers throughout the world. For more information about ADP or to
contact a local ADP sales office, reach us at 1.800.225.5237 or
visit the company's website at www.ADP.com.
About WALLACE – The Training Tax Credit Company
Founded in 1996, WALLACE – The Training Tax Credit Company
("W. Ray Wallace & Associates,
Inc.") is Georgia's primary
service provider for the Georgia Retraining Tax Credit, with a
unique approach helps clients maximize their retraining tax
credits. Headquartered in Alpharetta, Ga., WALLACE has prepared more
than 30 percent of all the Georgia Retraining Tax Credits since
2000. For more information about WALLACE, visit
www.wraywallace.com.
For more information, contact:
ADP Public Relations
973.974.7612
public_relations@adp.com
Jill Lewis, Weber Shandwick for
ADP
952.346.6279
jlewis@webershandwick.com
Peter Green, WALLACE
770.772.0252
peterg@wraywallace.com
SOURCE Automatic Data Processing, Inc.