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SUNNYVALE, CA, March 20, 2007 – Liquid Engines, the leading provider of enterprise-class corporate tax management software, today announced at the Tax Executives Institute’s 57th Midyear Conference STx R5, the latest version of its state tax management software solution. This release adds significant capabilities in data management, analytics, and reporting.
Designed for real-time, multi-year, multi-state data collection and centralization, audit analysis, tax planning, and tax forecasting, STx R5 represents the de facto standard in state tax analytics. With STx R5, tax professionals can easily access the most recent tax data and control the format and granularity of the data, empowering them with enhanced decision-making capabilities. This is particularly important with regard to state apportionment, typically one of the most difficult areas to manage. With STx R5, tax departments can respond with greater speed and confidence to dynamic market conditions such as acquisitions, re-organizations, and audit requests. This release includes robust multi-tier partnership and divisional apportionment capabilities that support the most complex entity structures.
Liquid Engines STx R5 includes a range of powerful enhancements to help tax departments more swiftly and precisely calculate current and deferred tax expenses and liabilities, determine appropriate valuation allowances against deferred tax attributes, and compute a more accurate benefit amount under cumulative probability (i.e., FIN 48). These enhancements fall under three areas: data management, analytics, and reporting. STx R5 combines a single integrated view of the most current state tax information with an unparalled degree of data granularity and customizability to deliver the industry’s highest level of data integrity and calculation accuracy for appropriate support of FAS 109, FIN 48, and corporate governance requirements.
Robust Data Foundation Increases Data Integrity and Offers Any-Time, Any-Where Access
Liquid Engines STx is built on a comprehensive, flexible database that centralizes and standardizes critical data associated with state and local taxation. By integrating this data, STx eliminates integrity issues associated with independent data silos and individual spreadsheets. R5 expands these database capabilities to include NOL data, enabling a complete and accurate reflection of NOL schedules for comprehensive NOL tracking across the enterprise.
Expanding its already robust data foundation, R5 also introduces new apportionment capabilities that enable the user to capture apportionment data, rules, and sourcing methods at a detailed, sub-account level, addressing the unique needs of a broad range of industries including, among others, transportation, broadcast and media, financial services, utilities, and telecommunications. Centralized access to the most recent data adds the necessary consistency required for accurate, multi-jurisdictional apportionment calculations, supporting all core functions of the corporate tax department — tax accounting, compliance, audit, and policy and planning.
Efficient, Iterative Analytics Offer Greater Insight and Speed Decision Making
Enhancements to the analytic capabilities of STx R5 support the most complex organization structures and dramatically improve access to and accuracy of apportionment data, providing unprecedented levels of data transparency and significantly increasing the speed of decision making. With its rich scenario capabilities, tax professionals can use STx to drive iterative, go-forward analyses of critical tax and business issues. Tax departments can now make recommendations to management with the highest levels of speed and confidence. With the push of a button, STx R5 can help tax department professionals determine the impact of an audit settlement, the tax costs associated with more states adopting single factor apportionment or mandatory combined reporting, the best way to integrate a recent acquisition, and exposure relating to economic nexus, as Lanco and MBNA sit at the steps of the United States Supreme Court.
Easy, Flexible Reporting Ensures the Right People Have the Right Data at the Right Time
STx R5 includes enhanced reporting capabilities that enable analysis and reports in the most minute detail, across a wide range of report types, in both hard copy and electronic format. Armed with information such as this, the tax department can gain visibility into apportionment flowing from tiered partnerships and gain insight into combined group apportionment calculations by entity or business unit.
With ease and flexibility, reporting capabilities support multiple users across a wide range of functions. For example, the apportionment needs and level of detail required for the tax compliance function are fundamentally different than the needs of the tax accounting group who must schedule out deferred tax assets and liabilities and calculate FIN 48 liabilities. These needs are also dramatically different than the summary data that may be of interest to executive management. The reporting engine in STx R5 has the granularity and flexibility to satisfy each of these needs, ensuring that the right people have access to the right data in a format that best meets their unique requirements.
"Liquid Engines is the first true tax management system designed to support decision-making throughout the state tax function,” said Michael Lippman, Liquid Engines vice president, technical and strategic tax services. “Our latest release enables a previously unattainable level of speed and confidence in the state tax decision-making process by improving the certainty in tax data integrity and tax calculations."
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