Sales
Tax Plus
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Dominus
Systems, LLC, Foresight Software, Inc. and Vertex Tax Compliance Partnership
Are you facing heavy sales and use tax audit pressure from not just one, but many
states? Are you paying audit penalties and expenses that routinely cost you fees every
year? Are you having trouble keeping pace with the 600 to 700 sales and use tax rate
changes that occur each year?
If you face any of these scenarios, or are simply looking for a more accurate,
efficient, and productive way to manage your sales and use tax compliance, we may have the
solution for you. Dominus Systems has partnered with Vertex Inc., the industry leader in
sales and use tax compliance software, and Foresight Software, Inc. and developed an
interface between MXP and the Vertex Quantum Sales & Use Tax Compliance system.
Over the past 20 years, Vertex has established dominant leadership position by
providing thousands of corporate subscribers with software and databases featuring the
most comprehensive, accurate, and timely tax research in the industry. This research is
the single, most important element of an effective sales and use tax compliance solution.
Seamless Interface Unites MXP and SalesTax
Dominus Systems has provided an interface between Foresight's MXP product and Vertex's
SalesTax Compliance System - Quantum. Vertex's SalesTax software and tax databases
automate and use tax compliance through the research of rules and rates, the accurate
calculation of tax amounts, and the automated preparation of tax returns.
Vertex's SalesTax Compliance System includes...
Data...
Accurate sales and use tax compliance begins with accurate data. Vertex's SalesTax
Compliance System contains current sales and use tax rates for every taxing jurisdiction
in the U.S., its territories, and Canada (more than 6,500 locations) and placeholders for
more than 60,000 potential jurisdictions.
In addition, Vertex's industry leading tax research department helps keep you in
compliance through monthly database updates, delivered to you on your choice of media.
Calculation...
Dominus Systems' seamless STP interface to MXP allows you to automatically analyze each
transaction to determine:
- Whether it is intrastate or interstate
- Which taxing jurisdictions are involved
- Your company's taxability in those jurisdictions
- Whether you have nexus in those jurisdictions
- City and county, partial or full override rates
- Taxability of each line item, using exception information specific to your company
- And applicable maximum tax base and excess amounts
Based on the above criteria, Sales Tax Plus then retrieves the applicable tax
rates, calculates the tax amounts, and returns and stores these amounts in your MXP
application and in the Vertex Tax Register database. Taxable, nontaxable, and exempt
amount sales are calculated separately at the state, county, city and district levels. Tax
Subtypes such as Rental, Freight and Service are also passed to Vertex. This simplifies
both reporting and returns preparation.
GeoCoder...
Vertex's GeoCoder System provides the most accurate way of determining local tax
jurisdictions, rates and calculation requirements because it is organized the way tax
jurisdictions are organized: with state, county, and city designations. Consequently,
GeoCodes eliminate problems encountered by zip code based systems due to frequently
changing zip codes, and zip and county boundaries that do not match.
Tax Decision Maker...
In multi state sales and use tax compliance, exceptions are the rule. For maximum ease and
precision in customizing SalesTax to the complexities of your business, Vertex provides a
Tax Decision Maker (TDM) program. The TDM program allows you to define taxability by
product, customer, jurisdiction, or any combination of these criteria.
Sales Tax Plus or the TDM can be used to directly link tax status to your own products,
customers, or specific taxing jurisdictions. In addition, you can track exemptions or flag
virtually any other kind of exception that requires special calculation.
Automated Returns...
Compliance starts with accurate data and reliable calculations, but it is not complete
until you have filed the return. The SalesTax Compliance System automatically imports your
tax data from a summary file and enters it onto exact replicas of state and locally
administered return forms. From there, you can make any desired manual entries or
adjustments and then the system performs all necessary calculations and sends the results
to your printer state by state or in print batches.
The Bottom Line...
Dominus System's Sales Tax Plus and Vertex's SalesTax Compliance System can automate sales
and use tax processing by helping you:
- Reduce audit exposure and liability,
- Eliminate unproductive and repetitive rate and regulatory research
- Prevent inaccurate customer billing and the hassles that follow
- Reduce significantly time spent on preparation of returns.
>>See our client list... |