Related Topics: Vertex National Sales Tax Rate Directory Browser Quantum Returns - Vertex's returns preparation product Vertex/MV Sales/Use Tax Compliance Software from the Industry Leader Facing heavy sales and use tax audit pressure from not just one, but many states? Paying audit penalties and expenses that routinely cost $100,000 to $200,000 or more every year? Having trouble keeping pace with the 700+ sales and use tax changes that occur every 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, R.O.I. Syngineering is partnered with Vertex, Inc. of Berwyn, Pa., the industry leader in sales and use tax compliance software. Over the past 25 years, Vertex has established its dominant leadership position by providing its more than 3,000 corporate subscribers with software and databases that feature the most comprehensive, accurate, and timely tax research in the industry - the single, most important element of an effective sales and use tax compliance solution. R.O.I. Syngineering Engineers Vertex for MultiValue Environment R.O.I. Syngineering has engineered Vertex's SalesTax Compliance System to operate in the MultiValue (Pick-like) environment. Vertex/MV consists of sales tax software and tax rate databases, which automate sales 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/MV includes... Data - Accurate sales and use tax compliance begins with accurate data. Vertex/MV contains current sales and use tax rates for every taxing jurisdiction in the U.S. and Canada - more than 6,500 locations - plus placeholders for more than 60,000 potential taxing jurisdictions. In addition, Vertex's industry leading tax research department helps keep you in compliance through monthly database updates on your choice of media. Calculation - Because it is engineered specifically for the MultiValue environment, Vertex/MV interfaces easily to your financial applications to allow you to automatically analyze each transaction to determine - Whether it is intrastate or interstate, Which taxing jurisdictions are involved, City/county partial/full override rates, The taxability of each line item, using exceptions information specific to your company, And applicable maximum tax base and excess amounts. Vertex/MV then retrieves the applicable tax rates, calculates the tax amounts, and returns these amounts to your financial application for invoicing. Taxable, nontaxable and exempt amounts are calculated separately at the state, county, city and district levels, greatly simplifying 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 don't match. (See R.O.I. Syngineering's QuiZip product information for additional cross-referencing capabilities.) Tax Exceptions - In multi-state sales and use tax compliance, exceptions are the rule. Our Tax Exceptions module enables you to define exceptions for product, product group, customer, tax jurisdiction or any combination of these criteria. Tax Exemption Manager - Some customers are tax exempt in certain locations. Exemption Manager lets you define your legally tax-exempt customers and keep track of when their certificates expire. It even creates letters you can send to remind your customers to update their exempt status. Returns - Compliance starts with accurate data and reliable calculations, but it isn't complete until you've filed the return. Vertex Returns closes the loop by automatically importing your tax data from a summary file and entering 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 - stat by state or in print batches. The Bottom Line Vertex/MV can impact your bottom line by helping you to: 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 returns preparation, and Free your tax department to perform other important planning and auditing functions. Tax Trends The pace of change in sales and use tax rates makes compliance a never ending struggle; in 2001 - 2002 and 2004 - 2005 an average of over 750 taxing jurisdictions altered their rate - this number increased to 954 in the year 2003 alone. What's more, the cost associated with non-compliance is growing as states and localities increase their auditing capabilities to optimize tax revenues. Sales and Use Tax Rate Changes 1999 - 2005 1999 2000 2001 2002 2003 2004 2005 State Rate Changes 1 1 5 5 5 4 4 County Rate Changes 119 96 116 186 155 194 147 City Rate Changes 234 240 323 291 303 299 327 Transit Tax Changes 3 7 48 57 15 30 37 New Taxing Counties 51 37 50 35 107 32 26 New Taxing Cities 184 128 205 148 342 175 160 New Transit Taxes 6 21 2 13 27 30 58 Total 598 530 771 735 954 764 759 Application Interfaces and Implementation Services Several software companies have developed interfaces between their applications and Vertex/MV. Some of these interfaces are available as optional extensions to their primary applications. R.O.I. Syngineering has assisted many clients with custom enhancements to their financial applications to enable use of Vertex/MV. Contact For more information on Vertex/MV or any other R.O.I. Syngineering product, please call 805-370-1530, fax 805-370-1533, or e-mail sales@roisyn.com   Return to Top of Page Return to Home Page