News Update

TaxBreak Founder and CEO Frank Brown Retires; Shannon Scott Appointed President and Chief Executive Officer.

For Immediate Release
January 4, 2010

TaxBreak Contact:
Brittany Graben
256-399-0243
bgraben@taxbreakllc.com

Gadsden, Alabama—TaxBreak, the leading expert in state and federal government tax credit processing, announces today that Founder and CEO Frank Brown has retired, passing the CEO position onto TaxBreak President, Shannon Scott.

Brown founded TaxBreak in 1998 while serving as a tax attorney in Alabama. His work in assisting his clients in taking advantage of federal tax incentives inspired him to form a company to help make the incentives more accessible to all business owners.  Since founded 11 years ago, the company has grown into a healthy and vibrant business with more than 400 clients who make up about 75,000 business locations throughout the nation. Brown takes great pride in the company’s appearance on Inc. 500’s list of Fastest Growing Companies for two consecutive years and its ranking on the Inc. 5000 list for 2009. Aggressive plans for repeating Inc. 500 level growth and building stronger industry partnerships are key goals anticipated under Scott’s leadership.

“It is very rewarding to see a vision come to life and become a profitable business. I am grateful to the many people who have dedicated themselves and contributed throughout the years and especially for the clients who have trusted TaxBreak to serve them,” said Brown.

Since 2007, Brown has trusted Scott to manage day-to-day operations. Together, they have guided the creation and development of a company that is changing the way employment tax credits are managed. As President, Scott has streamlined operations, increased processing capacity with the development of proprietary software, built the company’s partner network and opened doors that have allowed the company to double in size every year since he joined the firm three years ago.

“We have experienced tremendous growth in the last three years as the business climate and government legislation have worked together in our favor. I have a very supportive and over-qualified staff of executives who are eager to continue the company’s rapid growth,” added Scott.  “I am grateful for the opportunity to lead TaxBreak and look forward to much continued success.”

For now, Brown will remain chairman of TaxBreak and focus on operating The Business Incentives Group (tbigtax.com) and a new non-profit venture to help high-risk individuals find employment. He plans to stay active with the American Bar Association and the Alabama Bar Association.

About TaxBreak
TaxBreak was founded in 1998 and is made up of an acclaimed team of tax attorneys, technology and financial executives committed to delivering tax credit consulting and processing to companies of all sizes. The Gadsden, Alabama-based organization boasts proprietary software that enables them to accurately determine the tax credit eligibility of company employees, including those who qualify for work opportunity tax credits, disaster relief credits and geographic based credits, among others. For more information, visit TaxBreak online at www.taxbreakllc.com.

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