Tips and Tricks: Sales Tax Office

Sales Tax Office (STO) is CCH’s newest sales and use tax calculation software product. If help is needed, or questions arise, customer support specialists who know the ins and outs of STO are only a phone call away. Here are two favorite tips in answer to recent user questions:

Q. I can’t find a good fit for mapping the taxability of certain products and services we offer. How can I solve this problem?

A. If you can’t find a perfect match using the mapping guide or the hundreds of state-specific taxability rules already built into STO, you can create your own customized groups or items. You simply give each group or item a name, and then modify the taxability rules to apply to it, based on help available from CCH tax experts or your own in-house research.

Q. I worry that we’re paying tax on purchases that should be exempt because they’re used in our manufacturing process. What can we do about this?

A. Many enterprisewide accounting systems don’t provide the detail you need to determine how equipment or other purchases are actually being used in your operation. As a result, it’s easy to miss out on usage-based tax exemptions. In STO, you can configure the system so that it automatically applies the criteria needed to qualify for a full or partial exemption, while also providing the audit trail you need to support that decision in the event you are audited.

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AUTHOR

Wolters Kluwer Tax and Accounting

Wolters Kluwer Tax and Accounting is a leading provider of software solutions and local expertise that helps tax, accounting, and audit professionals research and navigate complex regulations, comply with legislation, manage their businesses and advise clients with speed, accuracy and efficiency. Wolters Kluwer Tax and Accounting is part of Wolters Kluwer N.V. (AEX: WKL), a global leader in information services and solutions for professionals in the health, tax and accounting, risk and compliance, finance and legal sectors. We help our customers make critical decisions every day by providing expert solutions that combine deep domain knowledge with specialized technology and services. Wolters Kluwer reported 2016 annual revenues of €4.3 billion. The company, headquartered in Alphen aan den Rijn, the Netherlands, serves customers in over 180 countries, maintains operations in over 40 countries and employs 19,000 people worldwide. Wolters Kluwer shares are listed on Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices. Wolters Kluwer has a sponsored Level 1 American Depositary Receipt program. The ADRs are traded on the over-the-counter market in the U.S. (WTKWY).

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