About this Tax Manager — Income Tax & Provision role at Cadence Design Systems
At Cadence, we hire and develop leaders and innovators who want to make an impact on the world of technology.
POSITION OVERVIEW
We are seeking a Tax Manager to join our Corporate Tax team. Reporting to the Tax Director of Provision, this role is responsible for leading the preparation and review of the consolidated income tax provision under ASC 740, as well as supporting federal and state income tax compliance, SEC reporting disclosures, and internal controls over financial reporting. The ideal candidate brings a strong technical foundation in ASC 740, exceptional attention to detail, and the ability to communicate complex tax concepts clearly to cross-functional stakeholders.
KEY RESPONSIBILITIES
Tax Provision (ASC 740)
- Preparation and review of the quarterly (Form 10-Q) and annual (Form 10-K) consolidated income tax provision under ASC 740, including current and deferred tax computations.
- Calculate and maintain uncertain tax position (UTP) reserves under ASC 740-10 (FIN 48); prepare and update UTP inventory schedules and supporting documentation.
- Preparation and review of deferred tax asset and liability calculations; perform quarterly roll-forward analyses and reconciliations to the general ledger.
- Conduct quarterly valuation allowance assessments across domestic and international jurisdictions; prepare positive/negative evidence memoranda supporting management conclusions as needed.
- Prepare and review tax return-to-provision true-up calculations.
- Prepare the income tax footnote disclosures for SEC filings, including the rate reconciliation, deferred tax rollforward table, UTP tabular disclosure, and related narrative.
Tax Compliance
- Support the preparation and review of the U.S. federal consolidated corporate income tax return (Form 1120) and state/local income and franchise tax returns.
Internal Controls & Process Improvement
- Maintain tax process documentation for Sarbanes-Oxley (SOX) Section 404 purposes.
- Identify and implement process improvements and automation opportunities to increase efficiency and reduce risk in the tax close process.
- Maintain and enhance tax accounting policies and procedures in accordance with U.S. GAAP.
Cross-Functional Collaboration
- Partner with FP&A, Accounting, Legal, Treasury, and Stock Administration to gather data needed for the provision and compliance processes.
- Liaise with external auditors (Big 4) on tax-related audit procedures, PBC requests, and technical matters; respond to auditor inquiries in a timely and thorough manner.
- Support tax planning initiatives, M&A transactions, and other special projects as assigned, including purchase price allocation analyses and Section 382 studies.
REQUIRED QUALIFICATIONS
- Bachelor's degree in Accounting, Finance, or related field; Master of Science in Taxation (M.S.T.) or J.D./LL.M. preferred.
- Certified Public Accountant (CPA) license required.
- 5–7 years of corporate income tax experience, with significant focus on ASC 740 income tax provision for a publicly traded company (in-house) or large public company clients (public accounting).
- Strong technical knowledge of U.S. GAAP income tax accounting (ASC 740), including deferred taxes, valuation allowances, uncertain tax positions, and intraperiod tax allocation.
- Experience with SEC income tax footnote disclosures (10-K / 10-Q).
- Familiarity with U.S. federal and multi-state corporate income tax compliance (Form 1120).
- Hands-on experience with tax provision software (e.g., OneSource Tax Provision, CorpTax, or equivalent).
- Working knowledge of SOX 404 internal control requirements as they relate to the tax function.
- Excellent analytical, organizational, and written communication skills.
- Ability to manage multiple priorities and meet tight deadlines in a fast-paced, publicly traded company environment.
PREFERRED QUALIFICATIONS
- Big 4 or large regional public accounting firm background.
- Experience with international tax provisions, including GILTI, FDII, BEAT, Pillar Two / global minimum tax considerations.
- Exposure to tax accounting for mergers, acquisitions, or restructurings (purchase accounting, Section 382).
- Proficiency with ERP systems (SAP, Oracle) and data tools (Alteryx, Excel Power Query).
KEY COMPETENCIES
- Technical Excellence — Deep, current knowledge of ASC 740 and U.S. corporate tax.
- Attention to Detail — Accuracy and thoroughness in complex, high-stakes financial computations.
- Communication — Ability to explain technical tax concepts to non-tax audiences, including CFO and Audit Committee.
- Collaboration — Comfortable working across Finance, Legal, and external advisors.
- Ownership — Takes initiative; drives issues to resolution without constant direction.
- Continuous Improvement — Proactively identifies and implements process efficiencies.
The annual salary range for California is $112,000 to $208,000. You may also be eligible to receive incentive compensation: bonus, equity, and benefits. Sales positions generally offer a competitive On Target Earnings (OTE) incentive compensation structure. Please note that the salary range is a guideline and compensation may vary based on factors such as qualifications, skill level, competencies and work location. Our benefits programs include: paid vacation and paid holidays, 401(k) plan with employer match, employee stock purchase plan, a variety of medical, dental and vision plan options, and more.
