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SUNNYVALE, CA, June 5, 2006– Liquid Engines, the leading provider of enterprise-class corporate tax management software, today announced several enhancements to the company’s STx multi-state tax management software solution. The enhancements in STx R4 significantly enhance a tax department’s ability to conduct real-time forecasting and analysis in parallel with changes in the business and legislative arena. Used today by Fortune 500 companies in manufacturing, energy, entertainment, financial services, and pharmaceuticals, Liquid Engines STx enhances data integrity, speeds the modeling process, drives accuracy and visibility into the tax accounting processes, and simplifies critical record-keeping procedures. Armed with STx, state tax teams are able to focus on value-added analysis and decision making instead of spending their time on data gathering and spreadsheet maintenance. As a result, they are able to reduce risk, increase efficiency and effectiveness, and better manage tax liability.
"Our latest release, STx R4, enables tax organizations to more quickly and accurately forecast the impact on tax as changes occur within the company and in state regulations,” said Rita Iorfida, Liquid Engines’ vice president, products. “These new capabilities enable companies to identify and maximize tax opportunities by modeling scenarios based on current accurate data with much greater efficiency, ease and visibility and thereby avoid costly errors and surprises.”
The enhancements announced today build on capabilities delivered in prior releases of Liquid Engines STx such as special industry apportionment management, which enables tax to determine the optimal special industry apportionment methods while complying with state apportionment rules. With new enhancements in STx R4, tax professionals are able to:
- Analyze the multi-year impact of enacted or proposed gross receipts regimes in states like Ohio and Texas against prior year actuals and future year forecasts.
- Optimize their tax profile with detailed combined and unitary group spread reports that provide complete visibility into the impact of legislation, audits, and restructuring on the member entities' income and expense, apportionment, state modifications, and carryforwards.
- Improve process controls and certainty with the ability to update tax data in real time—as dynamically as the business changes. Real-time data updates streamline the tracking of quarterly estimated payments and help ensure state tax liabilities are accurately calculated.
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