CypherTax Helps Conquer Complex Emerging Industry Tax Rules

Alternative Energy Company Uses CypherTax to Manage Complicated Requirements

Navigating industry-specific tax rules can be challenging.  Off-the-shelf solutions reflect standard tax rules but don’t make it easy to account for nuanced differences.

That was the case for one alternative energy company before it started using CypherTax. The company came to CypherTax in search of a technology to support a labor-intensive process rife with errors.

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Streamlining Manual Processes with Custom Schedules

CypherTax is well-suited to solve this type of problem, and it only skims the surface of our software’s functionality. For the alternative energy company, we created a heavily customized ruleset. In this way, the company was able to make tax determinations consistently applicable across its numerous entities and partnerships.

What used to take days now takes minutes.

CypherTax produces schedules to send to their compliance provider for filing returns. Our schedules are formatted for seamless import. At every step of the process, from beginning to end, CypherTax makes it easier for the company to manage complex requirements.

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Empowering a Lookback to Gauge Exposure

After configuring the system, the same logic was easily applied for a lookback. CypherTax examined approximately 18 months of data managed under the company’s prior process to identify errors. In this way, CypherTax helped the company manage forward and backward to anticipate any risk of exposure and prepare for the future.

Looking for a better way to manage complex transaction taxes? Schedule a demo to learn how CypherTax’s unique capabilities can support your company.