Taxation SuiteApps

US Statewide Item Tax Exceptions

The SuiteTax Engine (STE) SuiteApp version 2.00.73 lets you create an exception from the general taxation for the relevant items in US nexuses.

With this update, you will be able to do the following:

• define specific taxation for respective items that will apply in the defined nexus

• set a limited validity period for your taxation exceptions. To do this, you must indicate the "Valid From" and/ or "Valid Until" date.

The created exception is automatically considered during the tax determination. The suggested taxes are then automatically applied.

Previously, items in the US were either taxed as the general tangible property or you could mark your items as exempt.

For more information about this feature, see Setting up US Item Tax Exceptions

Withholding Tax Enhancements

To meet an EOPT compliance requirement, Withholding Tax SuiteApp version 1.49.0 now includes journal entries that reflect accruals in the following reports:

• Certificate of Creditable Tax Withheld at Source (2307)

• Monthly Remittance Form of Creditable Income Taxes Withheld (Expanded) (0619-E)

• Quarterly Remittance Return of Creditable Income Taxes Withheld (Expanded) (1601-EQ)

• Summary Alphalist of Withholding Tax Agents/Payors of Income Payments subjected to Creditable Withholding Tax at Source (SAWT)

• Annual Alphalist of Payees (1604E)

• Quarterly Alphalist of Payees (QAP) or Monthly Alphalist of Payees (MAP)

A new custom journal form, named PH WHTax Form, provides the necessary fields for including journal entries in withholding tax reports.

For instructions, refer to Specifying Withholding Tax Settings for Journal Entries.