Avalara Inc. has announced the launch of Avalara ExciseRates™, a free fuel tax calculator that allows buyers and sellers of bulk fuel to quickly and accurately determine the excise taxes that apply in North America.
Commencing on the launch of the product, Matt Tormollen, Executive Vice President and General Manager of the company’s Exicse & CertCapture Divisions, said: “Midstream and downstream energy companies operate in a highly regulated industry. Whether acting as a fuel refiner, supplier, distributor, retailer, or energy trader, each time the company sells or moves fuel, it is subject to one or more taxes.
“And, since fuel excise taxes are charged at multiple levels - federal, state, county, and city, correctly calculating the taxes that apply to a transaction can be extremely time consuming and complex - not to mention costly when calculated incorrectly. ExciseRates gives any participant in the transaction a simplified view of their risk and obligation.”
The ExciseRates calculator is powered by Avalara’s AvaTax™ Excise solution, which identifies and calculates indirect taxes for fuel transactions with built-in support for all major jurisdictions in the US, Canada, and Europe. Fuels covered include gas, diesel, biofuels, lubricants, aviation fuel and natural gas.
Adapted from press release by Katie Woodward
Read the article online at: https://www.lngindustry.com/small-scale-lng/19032015/fuel-excise-tax-calculator-for-north-america-447/