Senior Manager of Tax, Rent the Runway
$134.4-145k
+ Eligible for equity compensation
1+ day a week in office (Brooklyn, NY)
Women's clothing subscription service
Open for applications
Women's clothing subscription service
501-1000 employees
Open for applications
$134.4-145k
+ Eligible for equity compensation
1+ day a week in office (Brooklyn, NY)
501-1000 employees
Company mission
Rent the Runway's mission is to power women to feel their best every day.
Role
Who you are
- 8+ years of progressive tax experience
- Public accounting tax experience or tax consulting experience is required
- Bachelors or advanced degree in accounting or taxation is required
- CPA license is required; JD or other licenses are preferred
- International tax experience is preferred
- Must possess an ability and a desire to work effectively in a fast-paced, start-up environment
- Must be able to multi-task and identify any critical needs to be prioritized
- Must be a detail-oriented self-starter
- Able to communicate effectively with various levels in the organization and with external parties
- Able to develop connections and relationships with outside advisers, both domestically and internationally
- Willing to help the broader accounting and legal teams with various projects and requests as required
What the job involves
- As the Senior Manager of Tax you will be a senior member on the Finance team responsible for leading and running the tax function as a function of one for Rent the Runway.
- You will report to the VP, Controller and work in partnership with other finance leaders and cross-functional senior leaders to (1) ensure tax compliance for the overall company and its Irish subsidiary, (2) assess tax implications of business projects and lead relevant tax implementation strategies, and (3) develop and drive near-term and long-term strategic tax efficiencies
- Manage and facilitate the preparation, review, and filing of:
- Company federal and state tax returns
- Company sales and use tax returns
- Company property tax returns
- Income tax returns for the company’s international subsidiaries
- VAT returns for the company’s international subsidiaries
- Manage the calculation and review of quarterly and annual income tax provisions, providing support as needed
- Support various audits and liaise with external auditors to address tax-related inquiries
- Prepare and review tax disclosures for quarterly, annual and other public filings
- Lead the preparation and oversight of monthly and quarterly sales tax roll forwards, tax reconciliations and journal entries for period-end close
- Manage the tax professional services budget and record accruals when necessary
- Provide support to and assist external tax advisers in responding to examinations from various taxing authorities, such as federal, state and local, and sales and use
- Manage and support special tax-related projects
- Maintain strong internal controls and ensure compliance with all aspects of the tax process
- Partner with internal departments to provide tax guidance and ensure new business initiatives are implemented in a tax-compliant manner
- Review vendor tax forms to confirm accurate withholding tax treatment; provide guidance to the Accounts Payable and Buying teams
- Collaborate with Payroll and HR teams and provide guidance on HR/Equity related tax matters
- Develop and maintain effective working relationships with external tax advisers
- Monitor legislative and regulatory tax law developments, communicate the effects of these developments to the management team, and create strategies to capitalize on changes to taxation legislation
Our take
Rent the Runway seeks to profit from two important trends in apparel consumption: wanting to stay on top of the latest fashion trends while living and purchasing sustainably. By providing a platform for women to rent designer pieces, its users can have it all.
The company allows users to rent, subscribe, or buy designer apparel and accessories. It achieves this with its network of partnerships with hundreds of top designers and managing the crucial but complicated logistics in-house. It offers its partnered brands sophisticated analytics about potential customers in return for lower prices on designer garments.
Rent the Runway is now focused on diversifying revenue streams while reducing its costs. Its recent partnership with Amazon is an example of this new direction: while it will use this chanel sell to clothes previously rented through its platform, it will for the first time be selling new clothes based off of rental items modified in line with market data.
While moves such as this may well shift Rent the Runway towards profitability, it also risks undercutting the company's central message of sustainability and supporting the circular economy. The company believes that by creating better quality clothing it will nonetheless be aiding in the fight against fast fashion. Time will tell if this move helps or hinders the sustainability movement, but it is likely to boost Rent the Runway's bottom line regardless.
Freddie
Company Specialist at Welcome to the Jungle
Insights
-6% employee growth in 12 months
Company
Funding (last 2 of 9 rounds)
Apr 2020
$80m
SERIES G
Mar 2019
$125m
SERIES F
Total funding: $401.2m
Company benefits
- Generous Paid Time Off including annual leave, paid bereavement, and family sick leave - every employee needs time to take care of themselves and their family.
- Universal Paid Parental Leave for both parents + flexible return to work program - because we know your newest family member(s) deserve your undivided attention.
- Paid Sabbatical after 5 years of continuous service
- Exclusive employee subscription and rental discounts
- 401k match
- Work from home opportunities
- Comprehensive health, dental care and dependents care from day 1 of employment - Your health comes first and we’ve got you covered.
- Competitive Stakeholder Pension - taking care of your future
- Company wide events and outings - our team spirit is no joke - we know how to have fun!
- Hybrid Work - our corporate employees have the option to work remotely 3 days a week, in accordance with Company policies
Company HQ
Hudson Square, New York, NY
Leadership
Jennifer Hyman
(CEO)Prior to Rent the Runway, was director of business development at IMG where she focused on the creation of new media businesses for IMG's fashion division.
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