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SUNNYVALE, CA, March 17, 2003 – Liquid Engines, a cash flow and tax management software company, today announced the first release of its multi-state income tax planning product. This new offering enables the CFO, Treasurer and VP of Tax to manage, analyze, optimize and document cash and tax effects surrounding a company’s complex legal entity structure and environment. Users of Liquid Engines’ solution will spend less time developing complex spreadsheets and more time on valuable proactive analysis and informed decision making.
The Liquid Engines Multi-State Tax Analyzer (MSTA) – consisting of sophisticated tax models and analysis tools – couples corporate data with applicable tax regulatory rules and guidelines to provide an extremely powerful and flexible analysis environment. With MSTA, financial managers and executives can quickly and easily evaluate the multi-year cash and tax impact of any change in legislation, corporate policy, entity structure, entity transactions, corporate expansion or audit positions. All MSTA analysis meets the highest standard of accuracy, reliability and quality required by today’s corporate governance guidelines enabling CFOs and VPs of Tax to confidently rely on MSTA output to make key strategic and financial decisions.
“Liquid Engines has revolutionized ‘what if’ tax planning,” said Walter Hellerstein, Francis Shackelford Professor of Taxation at the University of Georgia School of Law. “It enables tax professionals to analyze and optimize their tax business structures in an interactive and transparent manner that renders traditional ‘spreadsheet’ analysis obsolete.”
Leveraging the Multi-State Tax Analyzer, tax professionals can:
- Optimize the company’s legal entity structure
- Analyze the impact of a divestiture
- Optimize the integration of mergers and acquisitions
- Rapidly model the impact of proposed legislation
- Evaluate the impact of various filing positions
- Closely manage ETR and provision
- Quickly measure the impact of proposed and current audit adjustments
- Determine optimal inter-company transaction pricing
“The Liquid Engines Multi-State Tax Suite allows non-modelers to analyze complex corporate structures and iterate through thousands of scenarios in a matter of minutes to find the optimal tax strategy,” said Bill Gagnon, Partner, GMG Consulting and Former Partner, PwC.
The Liquid Engines state tax solution offers a standards-based open architecture designed to integrate into existing IT environments. MSTA is a powerful application built on top of the Liquid Engines platform that consists of the Reporting and Integration System, the Optimization Engines, the Tax Regulations Database and the Data Management System. Once installed, planners can export data from various sources, import it into the application, create multiple ‘what-if’ modeling scenarios, evaluate various planning ideas, quantify results and produce comprehensive reports all within a few weeks. Each layer of the solution has been architected to keep the modeling-efficiency to very high levels without compromising accuracy.
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