SOURCE: Sabrix, Inc.

February 26, 2009 08:00 ET

Sabrix Announces Availability of Taxcast, an Online, Interactive Tool Designed to Help Businesses Navigate Shifting Sales and Use Tax Obligations

Over 260 US Sales and Use Tax Changes in January 2009 Alone Highlight Compliance Complexity

SAN RAMON, CA--(Marketwire - February 26, 2009) - Sabrix, Inc., a leading provider of transaction tax management for companies of all sizes, today announced Taxcast, an online, interactive tool to help businesses stay abreast of the latest sales and use tax obligations from 13,253 taxing jurisdictions in the US.

Each year in the US, various states and local taxing authorities make over 1000 changes, on average, to sales and use tax rates, making it difficult for companies to stay current and maintain compliance. This rate of change is expected to increase in the current unprecedented economic downturn given that over 50% of States are facing indirect tax shortfalls and proposing changes in sales and use tax laws. Over 260 tax changes have occurred in January 2009 alone.

"States take very different approaches regarding if and when to institute changes in sales and use tax legislation. We are seeing a wide variety of approaches with some states levying additional taxes, others cutting and some just maintaining the status quo. Some are trailblazing opportunities to tap into new revenue sources, like New York's Amazon and iPod taxes, yet others are instituting tax amnesty programs," said Carla Yrjanson, Vice President of Tax Services. "Taxcast is just one of the many value added services we offer in our Tax Community Resource Center to help companies successfully navigate these complexities and achieve compliance."

Key features of Sabrix Taxcast include:

--  A user-friendly, graphical map interface to help companies easily
    understand state by state transaction tax compliance legislation and
    obligations
--  Concise summaries and regular updates of recent tax rate changes,
    product taxability, tax jurisdiction and authority updates
--  Expert analysis highlighting unique tax laws and trends that
    potentially slow growth or create risk and exposure for businesses
    

Sabrix Taxcast is supported by the same tax research professionals and SAS 70 Type II certified tax research provided to Sabrix's clients. Sabrix Taxcast, along with the other tools available on the Sabrix Tax Resource center, arm businesses with the timely information needed to achieve a higher degree of compliance and reduce costs. Other community resources include an interactive tax calculator, tax tables, whitepapers, webinars and a tax blog written by members of Sabrix's division of tax professionals comprised of former auditors, CPAs and tax attorneys.

Pricing and Availability

Offered as part of Sabrix's Managed Tax Service, Taxcast is available free of charge and is available now through the Sabrix Resource Center. To access Taxcast, go to: http://www.sabrix.com/taxcasts

About Sabrix

Sabrix, Inc. is a leading provider of transaction tax management for companies of all sizes, enabling finance, tax, and IT professionals to achieve accurate, timely, and cost-effective compliance for sales tax, use tax, Value Added Tax (VAT), excise tax and industry-specific taxes and fees. The Sabrix Application Suite™ serves global enterprises such as Amazon.com, BASF, Cisco, DTE Energy, IBM, QUALCOMM, Sportsman's Warehouse, and York International. The Sabrix Application Suite seamlessly connects to all financial applications requiring the determination, calculation, and recording of transaction taxes. The company also offers the Sabrix Managed Tax Service™ (MTS), an outsourced transaction tax compliance service that helps finance departments of small-and-medium-sized businesses eliminate the hassle, control their audit exposure, and reduce the total cost of sales tax, use tax, and VAT compliance. Sabrix MTS seamlessly integrates with a company's existing accounting and e-commerce systems, and, similar to outsourced payroll services, operates as a trusted extension of a company's finance department to address tax compliance from start to finish: address validation, tax rate maintenance, tax determination and calculation, returns preparation and filing as well as audit research and documentation. For more information, please visit www.sabrix.com.

Sabrix, Sabrix Application Suite™, Sabrix Managed Tax Service™ and Sabrix MTS are trademarks of Sabrix, Inc. All other company and product names are trademarks or registered trademarks of their respective holders.

Contact Information

  • For press inquiries:
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    Codey Communications
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