Avalara Launches Fuel Excise Tax Calculator to Provide Tax Risk Visibility
- Avalara News
- March 17, 2015 | Avalara
Service Determines Excise Taxes for North American Bulk Fuel Transactions
March 18, 2015 – Houston, TX – Avalara, Inc., a leading provider of cloud-based software delivering compliance solutions related to sales tax, excise, VAT and other transactional taxes, today announced the launch of Avalara ExciseRates™. This free fuel tax calculator allows buyers and sellers of bulk fuel to quickly and accurately determine the excise taxes that apply to any bulk fuel transaction in North America.
“Midstream and downstream energy companies operate in a highly regulated industry,” said Matt Tormollen, EVP & GM of Avalara’s Excise & CertCapture Divisions. “Whether acting as a fuel refiner, supplier, distributor, retailer, or energy trader, each time the company sells or moves fuel, it is subject to one or more taxes. And, since fuel excise taxes are charged at multiple levels - federal, state, county, and city, correctly calculating the taxes that apply to a transaction can be extremely time consuming and complex - not to mention costly when calculated incorrectly. ExciseRates gives any participant in the transaction a simplified view of their risk and obligation.”
The ExciseRates calculator is powered by Avalara’s AvaTax™ Excise solution which identifies and calculates indirect taxes for fuel transactions with built-in support for all major jurisdictions in the U.S., Canada, and Europe. AvaTax Excise enables companies of all sizes to quickly calculate excise taxes to enable accurate invoicing, accruals, and reconciliation of energy-related indirect taxes.
For more information and to sign up for this free service, please visit: https://exciserates.avalara.com.
Avalara Excise Solutions:
Avalara AvaTax Excise and Avalara Returns™ Excise automate the fuel excise tax calculation and filing process for motor fuels such as gas, diesel, biofuels, lubricants, aviation fuel, and natural gas. Avalara enables companies selling or using fuels to reduce filing costs and ensure tax compliance. Avalara has experts on staff who understand motor fuel taxation and actively follow each state and local tax authority for changes to rules, rates, and forms that are required for businesses to maintain compliance.
Avalara helps businesses of all sizes achieve compliance with sales tax, excise tax, and other transactional tax requirements by delivering comprehensive, automated, cloud-based solutions that are fast, accurate, and easy to use. Avalara’s end-to-end suite of solutions is designed to effectively manage complicated and burdensome tax compliance obligations imposed by state, local, and other taxing authorities in the United States and internationally.
Avalara offers hundreds of pre-built connectors into leading accounting, ERP, ecommerce and other business applications. The company processes millions of tax transactions for customers and free users every day, files hundreds of thousands of transactional tax returns per year, and manages millions of exemption certificates and other compliance related documents.
A privately held company, Avalara’ s venture capital investors include Sageview Capital, Battery Ventures, Warburg Pincus, Technology Crossover Ventures, Arthur Ventures, and other institutional and individual investors. Avalara employs more than 800 people at its headquarters on Bainbridge Island, WA and in offices across the U.S. and in London, England and Pune, India. More information at: www.avalara.com