Taxcient offers Sales & Use Tax Compliance Options

From the August 2008 Review of Sales & Use Tax Systems

A new name in the area of sales and use tax compliance, Taxcient was initially launched by a group of former state sales tax auditors in 2003 as vAudit Group, Inc. The company’s products are geared toward corporate tax departments with multiple jurisdictional tax obligations, helping them decrease the time and labor required to perform these tasks and minimize inefficiencies. Among users of Taxcient’s solutions are several Fortune 500 companies. Taxcient’s core product line includes SaaS web-based options for managing exemption certificates, filing sales and use tax returns, and tracking and updating sales and use tax rates.

For exemption certificate management, the vCERT system provides an automated workflow solution that guides and streamlines all processes involved, from requesting certificates through form completion and document management. It includes a web-based portal for customers to log into and complete a certificate using a simple wizard-based system. The customer then prints, signs and faxes the certificate, which is then digitally stored. The vCERT program can notably reduce time spent managing these processes.

Also web-based, Taxcient’s vRETURN program provides a filing system that supports all taxing jurisdictions across the United States and Canada. But while users have the benefit of a comprehensive filing system, program pricing is based on only the jurisdictions that the business needs. vRETURN automatically imports sales and use tax transactions and validates rates and locations, notes ambiguous transactions for review, and then allows generation of returns that can be either electronically filed or paper filed, and can include scanable barcodes for those jurisdictions requiring the technology. The vRETURN system also includes due date tracking and alert features to keep tax departments on top of filing deadlines. Since the program is web-based, users can remotely access sales and use tax returns if necessary. Taxcient also offers tax payment remittance services.

The company’s vRATES utility provides continually updated and current rate tables for all taxing jurisdictions in North America and is available in a variety of formats for import into a business’ sales, accounting or billing systems. It also includes a web-based feature for quickly looking up rates based upon ZIP+4 and includes sell use, consumer use, and exceptions based upon state, city, county or other tax jurisdiction rules. Like the vRETURN system, vRATES pricing is based upon only the jurisdictions needed by the business.

Taxcient also offers a fully outsourced option for sales and use tax compliance, with the vendor’s team of sales tax experts processing all compliance activities including filing and payment. Additional services include Audit Defense and Virtual Audit, as well as Nexus analysis, multi-jurisdiction consulting and assistance in implementing effective SUT process workflows.