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SUNNYVALE, CA, October 18, 2004 – Liquid Engines, the provider
of breakthrough corporate income tax planning and management software,
today announced that it will unveil its Corporate Income Tax Management
Suite at this year’s Annual Tax Executives Institute (TEI)
Conference, held in New Orleans, LA. The Suite is the industry’s
first enterprise software system designed to meet the complex requirements
of corporate income tax planning and management. Consisting of products for international and state income tax management, the
Suite equips today’s tax departments with the technology
needed to reduce tax liability and minimize tax risk, all while meeting
the stringent requirements of Sarbanes-Oxley.
“It is the perception in many companies that the tax department
is a 'black box.' Unfortunately, this mode of operation is no longer
acceptable because today’s shareholders demand transparency
and solid risk management,” said Charles Rossotti, senior advisor,
The Carlyle Group and former commissioner, Internal Revenue Service. “To
meet these requirements, tax professionals need to embrace the latest
advancements in software technology to ensure that their processes
are controlled, documented, and auditable. Liquid Engines is the
first technology provider to address this complex area of the business
by offering a software solution that enables corporations to reduce
their tax liability, more effectively manage risk, and remain transparent
throughout the process.”
“Today’s tax professionals are under increasing pressure
to reduce risk, increase cash flow, improve their serviceability
to the business, and adhere to strict corporate governance guidelines,” said
Gwen Spertell, CEO of Liquid Engines. “To meet these operational
requirements, other areas of the enterprise have long relied on and
benefited from the capabilities of sophisticated application software,
yet until now the tax department has been completely underserved
by technology. Liquid Engines’ groundbreaking software enables
tax professionals to enhance their strategic value by spending less
time developing and maintaining complex spreadsheets and more time
on critical decision making.”
Managing tax liability in today’s corporate climate requires
timely, thorough, and auditable modeling and analysis of complex
business scenarios. This level of evaluation is unattainable with
traditional spreadsheet tools, which have proven to be cumbersome,
labor intensive, and error prone. In addition, new regulations such
as Sarbanes-Oxley/404 have dramatically increased the documentation
and processing requirements for a tax department. Liquid Engines' software
meets these needs with advanced application technology that empowers
corporate tax professionals to—for the first time—efficiently
perform the level of modeling needed for:
- Optimizing the global legal entity and capital structure
- Structuring
M&A transactions, spin-offs, and split-ups
- Optimizing a repatriation
strategy
- Modeling transfer pricing
- Measuring the tax impact of proposed
and current legislation
- Determining filing elections
- Analyzing the impact of proposed
audit settlements on current and future years
- Conducting Subpart
F planning
- Analyzing FTC and E&P
The Liquid Engines Corporate Income Tax Management Suite uniquely
combines robust application technology with complex income tax calculations
and intelligence, providing an integrated view of a company’s
overall income tax position over multiple years, increased in-house
control of tax management processes, and enhanced record keeping required
in today’s highly regulated business climate. With Liquid Engines,
companies now have the power to effectively understand and manage
ongoing tax implications of business, regulatory, and legislative
changes, even within the most complex corporate structure.
The Tax Management Suite includes Liquid Engines’ exclusive
Optimizers, which offer unparalleled optimization capabilities that
enable the rapid evaluation of hundreds, even thousands, of possible
scenarios with unprecedented thoroughness and accuracy. To ensure
that the Optimizers identify only viable solutions, users can apply
constraints and parameters reflecting specific business considerations,
such as ranges for transfer prices or restrictions on which entities
can be merged and split, and under which circumstances various scenarios
can occur. The Tax Management Suite also includes built-in tax intelligence;
a centralized, multi-year data repository; and rich reporting capabilities.
Leveraging Liquid Engines, tax professionals are now able to move
beyond traditional spreadsheet-based modeling to a method that is
more flexible, efficient, and comprehensive.
About Liquid Engines, Inc. 
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