Tax Certification Process Streamlined for Sales and Use Tax
With this certification, retailers and telecommunications providers using Group 1's GeoTAX(R) in Colorado will be able to utilize electronic street address data for tax jurisdiction assignment. They also will be exempt from liability from taxes owed because of database accuracy, according to the "hold harmless" provision of the state's sales and use tax legislation passed last January.
GeoTAX(R) is the first tax jurisdiction assignment solution to be certified by the state. The Colorado Department of Revenue found the GeoTAX(R) database to be 97 percent accurate, surpassing the 95 percent accuracy level required for certification. Group 1 has exclusive use of the Tele Atlas North America (formerly Geographic Data Technology, Inc.) municipal boundary dataset for current jurisdictional boundary information for tax applications.
"With its certification in Colorado, GeoTAX(R) is extending its industry leadership in accurate tax jurisdiction assignment," noted Steve Walden, vice president and general manager of Centrus, a division of Group 1 Software. "To improve accuracy, Colorado became the first U.S. state to standardize on using street address databases for sales and use tax; most states today allow postal data (ZIP Code or ZIP+4) for tax jurisdiction assignment. The address matching and advanced geocoding capabilities of GeoTAX(R) combined with Tele Atlas' ability to track changes made to municipal boundaries uniquely give our customers a total solution for the precise assignment of tax jurisdictions."
More About GeoTAX(R)
With tax jurisdictions constantly changing and new tax jurisdiction assignment requirements mandated by federal and state laws, the potential liability resulting from inaccurate tax assignment poses a significant problem. GeoTAX(R) is a comprehensive solution that standardizes addresses and appends accurate state, county, municipal place, and special tax jurisdiction information to customer address records. To ensure that businesses utilize accurate address information for tax jurisdiction assignment, GeoTAX(R) provides exclusive access to the most current taxation boundary information through a data update process that continually tracks and updates taxation boundaries nationwide. GeoTAX(R) reduces customer financial risks and regulatory liability, and is compliant with the Mobile Telephone Sourcing Act.
The Colorado certification of GeoTAX(R) represents Group 1 Software's latest "first" in a long list of business geographics and geocoding achievements, which include:
* First national address-level geocoding system; * First CASS(R)-Certified geocoding system; * First multi-platform geocoding system; * First embedded spatial analysis engine; * First geocoding solution to incorporate LACS to update rural addressing to 911 (city-style) standards; * First national point-level geocoder. About Group 1 Software
Group 1 Software, a wholly owned subsidiary of Pitney Bowes, develops software that provides an integrated Customer Communication Management (CCM) solution, which maximizes the value of customer data and improves the effectiveness and efficiency of customer communications. Group 1 Software's solutions are an essential component of enterprise applications, serving to consolidate, cleanse and enrich corporate data, and generate personalized business documents for multi-channel delivery, customer care and efficient business processing. The company's solutions are utilized by over 3,500 organizations worldwide in the utilities, financial services/banking, GIS/mapping, retail, telecommunications, insurance and other industries, including Entergy, L.L. Bean, MapQuest, QVC, Siemens, Wal-Mart and Wells Fargo. For more information about the Company, visit www.g1.com.
Centrus, GeoTax, Group 1 and Group 1 Software are trademarks or registered trademarks of Group 1 Software, Inc. All other brand names, trademarks and registered trademarks are the property of their respective owners.
Contact: Colette Cote Pitney Bowes (203) 570 6061 Email Contact
CONTACT: Colette Cote, Pitney Bowes, +1-203-570-6061, Email Contact