Operationally Efficient Compliance and Security
Sabrix, Inc. grew to be 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 and York International.
Sabrix revealed in 2009 a sampling of quirky sales and use tax changes, emphasizing the importance of technology and expertise to help navigate the dynamic sales and use tax landscape. They include:
- Marshmallows and yogurt covered raisins in Wisconsin: Wisconsin recently enacted legislation that states that marshmallows are taxable unless they contain flour. Additionally, the new legislation “clarifies” that while yogurt and raisins are both exempt, yogurt covered raisins are taxable. Wis. Admin. Code Tax 11.51.
- The yoga tax in Missouri: Missouri became the only state to enforce a four percent sales tax on what many see as a spiritual pursuit: the practice of yoga. Ruling No. LR 2732.
Facts & Stats
- The Sabrix Tax Rate Calculator provides SAS 70 certified sales and use tax calculations and research for free.
- A Sabrix survey found that 82.1 % of businesses need six months to two plus years to prepare for VAT in the United States.
- Steve L. Adams, the CEO who led Sabrix to a successful exit now leads VirtuOz.