Auto Parts & Services Retail Client Saved Time and Money with Sovos Compliance’s Software and Returns Filing Service
Auto parts and services are a major revenue source for taxing authorities in the US and around the world, and the taxability issues faced by vendors in this space are particularly tricky. In this environment, getting the correct tax results on daily transactions is absolutely essential.
Sovos Compliance supports a robust suite of good/service codes content geared specifically towards the auto parts and services industry which substantially eases the compliance burden on our clients. For one client, TAXWARE software and Sovos Compliance’s services saved them time and money.
Prior to outsourcing their sales and use tax returns filings to Sovos Compliance, the client was manually filing their returns, which consumed a lot of time and resources. The client was about to experience rapid growth as a result of acquiring another auto parts retail chain. Rather than hiring on an internal tax department to calculate sales and use taxes and file tax returns, they sought out a partner who could successfully manage those tasks.
Sovos Compliance’s Solution
The client selected Sovos Compliance over other providers because of Sovos Compliance’s partnership mentality and willingness to build out tax content specific to the auto industry. The client uses the TAXWARE Sales and Use Tax System (SUT), a powerful, premise-based tax calculation engine that automatically calculates taxes for sales, purchases and rentals. In addition, the client turned to Sovos Compliance’s Sales Tax Service (STS) to take advantage of Sovos Compliance’s experienced team to prepare and file sales and use tax returns.
The client has grown in revenue and both the SUT software and STS services continue to meet their needs. As they grow, Sovos Compliance will continue to serve as a strong partner.