Motor fuels tax compliance is complicated and labor intensive
Houston, TX (PRWEB) July 7, 2010
Zytax, a wholly-owned subsidiary of FuelQuest and leading supplier of indirect tax automation software, announced today a five-year contract with Global Companies LLC. Global is a petroleum and energy marketing company that provides products to fuel distributor, power, and utility companies throughout the United States and abroad. A subsidiary of Global Partners LP, a Fortune 500 company, Global Companies LLC will use Zytax Compliance to automate and streamline their tax filing operations.
"Motor fuels tax compliance is complicated and labor intensive," says Robert Donnellan, senior excise tax manager at Global Companies LLC. "As we continue to scale our organization, we need a solution that automates our tax filing process helping us gain greater efficiency and accuracy. Zytax is the clear choice to achieve these goals."
Global Companies LLC and other customers use Zytax Compliance so they can:
Automate the end-to-end filing process from data import to electronic filing
Comply with frequently changing rules, rates, and forms for all U.S. jurisdictions
Increase consistency and reliability of the filing process
Improve reporting support for audits and amendments.
"Global Companies is a leader in petroleum and energy marketing, and we are proud to have them as one of our customers," says Robert "Bubba" Lange, SVP of operations at Zytax. "Motor fuels excise taxes are complex and challenging for companies to manage accurately and cost-effectively. By adopting Zytax Compliance, Global gains access to industry-leading automation that simplifies the tax filing process."
Zytax Compliance, the most comprehensive indirect tax automation application available, provides reporting capabilities for nearly 550 returns and 3,500 schedules. Compliance is supported with timely tax rule and rate updates to ensure form, schedule, and regulatory changes are captured and in place.
Over 700 customers have adopted Zytax solutions to calculate and file their indirect taxes. Processing $65 billion in taxes annually, Zytax is a proven solution provider within the energy industry.
About Global Partners LP
Global Partners LP, a publicly traded master limited partnership based in Waltham, Massachusetts, owns, controls or has access to one of the largest terminal networks of refined petroleum products in the Northeast. The Partnership is one of the largest wholesale distributors of gasoline, distillates (such as home heating oil, diesel and kerosene) and residual oil to wholesalers, retailers and commercial customers in the New England states and New York. Global Partners LP, a FORTUNE 500® company, trades on the New York Stock Exchange under the ticker symbol "GLP." For additional information, please visit http://www.globalp.com.
Zytax, a wholly owned subsidiary of FuelQuest supplies strategic software automation solutions for global indirect tax determination and excise motor fuel compliance for the energy industry. Zytax solutions provide complete visibility across the tax organization increasing the ability to track, forecast and report tax obligations while mitigating risk and reducing fines, fees, and penalties. Headquartered in Houston, Texas, Zytax has served the energy industry for more than 14 years, providing excise and specialty tax solutions for more than 700 installed customers. Zytax processes billions of dollars of motor fuel excise taxes per year. For more information call 713.222.5700 or visit http://www.zytax.com.