2014 Review of Bloomberg BNA Sales and Use Tax Forms and Rates

Best Fit: Firms and taxpayers who need a source for up-to-date rates and forms for all sales and use tax jurisdictions in the US. 

  • Organizations that would like to save time by prepopulating forms with key information for multiple clients/taxpayers or those that would like to import tax rate updates from a trusted source rather than manually keep up the information from state and local taxing authority announcements.

Strengths:

  • Rate tables are updated at least monthly, and they include a comprehensive listing of rates for each US jurisdiction.
  • The user interface for both products is simple to understand, and the Forms interface appears to have changed very little since I first used for the BNA Sales Tax Forms almost 15 years ago.
  • The Forms product includes over 3,400 forms, and all items in the database are accepted by the taxing authorities for filing on paper.  The collection of available forms is impressive, and is probably appropriate for someone who needs to prepare tax forms for paper filing.
  • The tax rates application’s optional Rates Exporter can be set to automatically schedule and send users updated rate tables on a weekly, monthly, quarterly, or annual basis.

Potential Limitations:

  • No options are available for electronically filing any of the forms created with the Sales & Use Tax Forms application.
  • The rate tables exported from the Sales & Use Tax Rates product may be configured to list both the name of the jurisdiction and the five digit zip codes associated with each jurisdiction.  Since multiple local tax jurisdictions can exist within a single zip code, users may need to verify whether a parcel is included or excluded from the borders of a city, town, or other special district.

Click "Continue Reading" to see the full review.

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