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Liquid Engines ITx Liquid Engines ITx, the industry's only multi-year, multi-country income tax management software system, enables international tax and treasury professionals to optimize and manage international corporate structures, determine the multi-year tax impact of business changes and audit settlements, maximize the benefit of various financial strategies, and improve responsiveness and service levels. By combining, unlimited “what if” analysis capabilities with built-in tax intelligence and a centralized income tax data repository, ITx enables users to advance beyond traditional spreadsheet modeling and analysis to a decision-making process that is more timely, precise, and transparent. Built for the web and scalable to support even highly complex multi-tier legal entity structures, ITx streamlines the modeling process, provides rapid access to tax information, and simplifies record-keeping procedures. Designed to maximize efficiency and drive improved effectiveness, ITx provides a rapid return on investment via reduced exposure, minimized tax liability, cost reduction, and enhanced productivity. Armed with ITx, international tax teams are able to perform complex multi-year, multi-country modeling to efficiently and effectively manage the overall U.S. income tax effect of:
Highlighted Features Include:
- Unlimited multi-year, multi-country "what if" modeling
- Comprehensive, parallel multi-year regular and AMT computations
- Centralized data repository of U.S. consolidated, domestic, and foreign legal entities
- Easy data import from multiple systems
- Carryforward and carryback analysis for NOL, FTC, R&D credits, and other business credits
- Menu-driven optimizers for repatriation planning and check-the-box
- Embedded, customizable tax rules
- Centralized documentation for current and future tax positions
- Robust reporting with Excel integration
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The Liquid Engines ITx solution comes complete with a customizable, comprehensive tax data repository and robust reporting capabilities that provide users with quick access to vital tax information. For the first time, international tax teams can achieve a multi-year view of their tax position across tiers and jurisdictions. Centralizing critical data associated with both local and U.S. taxation eliminates the challenge of managing independent data silos, disparate tax systems, and individual spreadsheets. In addition, ITx provides centralized record-keeping needed to adhere to today’s corporate governance guidelines. Armed with ITx, international tax professionals benefit from enhanced transparency, rapid access to data, increased control over the tax management process, and greater confidence in their tax decisions. Right out of the box, ITx provides powerful calculations and built-in intelligence to streamline tax modeling and analysis. Leveraging menu-driven wizards and embedded modeling tools, tax professionals can quickly and easily perform complex international/multi-year modeling and analysis, including:
- Restructuring Planning—Model structure changes and check-the-box scenarios to optimize tax savings.
- Comprehensive income sourcing, allocation, and apportionment of expenses—Plan and define the expense apportionment method that maximizes foreign tax credits.
- Subpart F income—Quantify the impact of Subpart F foreign source income by basket type.
- Intercompany transactions—Assess the tax impact of intercompany transactions.
- NOL, FTC, R&D credits, and AMT credits—Document, report on, and maximize utilitization across multiple years. Automatic carryback/carryforward.
- Repatriation—Plan repatriation strategies, automatically accounting for FTC limitations, E&P, foreign taxes, and withholding taxes.
In addition to the built-in modeling tools, users can also perform fully customized, iterative "what if" analyses. Users can easily save, edit, duplicate, or share scenarios, eliminating the need to recreate all or portions of the model. ITx also offers unprecedented depth and breadth of tax modeling and analysis. Leveraging our patent-pending optimization algorithms, tax professionals can identify optimal entity structures and repatriation strategies that take into account all material data and corporate constraints. In most complex corporations, this process involves evaluating hundreds, thousands, sometimes even tens of thousands of combinations—a task that is impossible with traditional analysis tools. ITx includes all the built-in tax intelligence, calculations, and historic tax rule information required to support strategic tax management. In addition, our parameter-driven approach enables users to easily customize modeling scenarios by changing parameters and tax rules according to a specific tax position. Users can easily model scenarios based on:
- U.S. Tax Rules, such as tax rates for low/high brackets, AMTs, carryovers, rules for NOLs, FTC and R&D credits, CFC Subpart F rules, FTC limitation under AMT, and so on.
- Country tables, including boycott status and tax rates.
- Currency tables, delivered ISO codes, BOY, EOY, and average rates.
- Withholding tax rates by payment types, such as rent, royalty, interest, and distributions.
- Entity characterization, such as varying rules on income and tax flows, credit tracking, ownership structure, and special allocation.
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