TTR, The Tax Research Company, has released the latest version of their Uniform Tax Matrix, (UTM) which combines all the sales and use tax matrices into a single, efficient tax answer tool.
This UTM is an extension of the work done by the Streamlined Sales Tax Governing Board, Inc., an organization that assists states in creating a simpler and more uniform sales and use tax system. Currently, 24 states participate in the Streamlined Sales and Use Tax Project.
TTR recognized the value of the Streamlined Sales and Use Tax Project and, since only 24 states currently have access to this data, they took it upon themselves to provide this research to all states and make the information available for the public as a free resource.
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“TTR is the tax answer company,” explained Shon Holyfield, CEO of TTR. “We are the only company whose focus has always been on providing clear and accurate sales tax answers. This UTM aligns with our corporate purpose to provide that to every business in the US.”
Those familiar with the Streamlined Sales and Use Tax Project would agree that the purpose of the project is to help taxpayers get sales tax right and helping state agencies simplify the administration of tax. Creating and updating tax matrices with tax answers is a time-consuming and complicated process.
“In working with several state agencies over the years, we realized that they face the same challenges as the corporations they serve – not enough time to get all the things done that they want to get done,” says Holyfield.
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TTR has taken each of the 24 Streamlined Sales and Use Tax Matrices, put all the questions and items in a spreadsheet, removed any duplicates, and then researched answers to those questions across all US states. In addition, TTR has included several other services and commonly sold products to the list in order to help out smaller businesses that don’t have tax departments. The result is TTR’s Uniform Tax Matrix.
“We are proud to provide these tax answers to the public for free,” says Holyfield. “We love hearing back from small businesses that this service has really helped them.”
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