2018 Review of Sales Tax Rates from Bloomberg Tax, Powered by Advantage

Formerly BNA Sales Tax Rates, now Sales Tax Rates from Bloomberg Tax, powered by Advantage helps to automate the sales tax calculation process, making it an ideal solution for mid-size, and large businesses, as well as accounting professionals that need access to real-time tax rates online. Sales Tax Rates is part of the new Advantage platform that features an intuitive interface and a single logon to access and manage purchased Bloomberg Tax Technology products.

Designed as a premier look-up resource, Sales Tax Rates from Bloomberg Tax also allows users to easily import tax data directly into point-of-sale or billing systems. The product offers rates for more than 58,000 state, city, and county tax jurisdictions, as well as for Puerto Rico and Canada. Sales Tax Rates offers a newly enhanced user interface screen with a drill-down search capability that provides the most accurate tax rates available. The product automatically displays historical tax information on the interface, and offers address verification and formatting based on United States Postal Service data. The main screen contains details, such as tax type, effective date of the tax, and the current rate. Sales Tax Rates supports both sales and use tax rates, and allows users to choose between the two from the main screen. Another nice feature is the inclusion of a calculator which enabling users to easily calculate current tax liability based on taxable amounts entered.

Sales Tax Rates continually updates its database, making it possible for users to download tax rates using a variety of file formats, including Excel. These rates can then be imported into third-party accounting applications. The product allows users to create favorites, and to download the rates of all states, specified states, or user-defined favorites which have been created and saved in the product.

Sales Tax Rates from Bloomberg Tax also offers an automatically updated library of nearly 3,400 sales and use tax forms that can be filled out online. Users can choose from a variety of options when filling out forms, including the ability to choose font and font size, as well as the ability to date stamp all forms. Exemption certificates, business registrations, powers of attorney and other forms are available as well.

Like the tax lookup interface, the forms library is easily searchable as well, with users able to search for forms using keywords or form numbers. All forms include links to comprehensive form instructions. Users can create separate profiles for all businesses that require form filing, adding due dates, and other details related to that business. When forms are due, they will be prepopulated with the data saved for that particular business. The product does not offer e-filing or electronic remittance of tax payments due, but users can easily complete forms online and print them at their convenience to be filed online or by mail. Users can also save all created forms as PDFs for future reference.

Sales Tax Rates also offers an optional Rates Exporter that allows users to schedule an export of tax data, with the ability to choose specific states, all states, or designated favorites. Exports can be scheduled on a weekly, monthly, quarterly, or annual basis, as needed. Users can also utilize the Export Now function to export data immediately. All files are exported as a zip file in CSV format and our listed under the Exports option on the page. Users can access any or all of the files at any time. Sales Tax Rates supports both Microsoft Excel and CSV file format, allowing users to easily import the files directly into their accounting, point of sale, or billing system. The product can be used as a stand-alone product or with other related applications from Bloomberg Tax including Corporate Tax Analyzer, State Tax Analyzer, and Fixed Assets.  

Bloomberg Tax offers toll-free customer support during regular business hours, as well as technical assistance 24/7. Users can also contact support via a form provided on the website, where a variety of white papers and on-demand webinars are also available.

Well-suited for businesses and accounting professionals alike, Sales Tax Rates from Bloomberg Tax provides excellent real-time sales tax data. An export capability allows users to easily utilize the application within their own accounting or point of sale product. Part of the Advantage platform, Sales Tax Rates from Bloomberg Tax is available as an online subscription with pricing available directly from the vendor upon request.  

2018 Overall Rating: 5 Stars