Bloomberg Tax released a new line of corporate tax software Wednesday known as Advantage, providing technology for handling fixed assets, federal and state tax, net operating losses, provision analysis, and sales and use tax rates.

The products enable users to keep track of projects, manage documents, and collaborate internally and externally.

Features include access to Bloomberg Tax Fixed Assets, State Tax Analyzer, and Sales Tax Rates. The Advantage line provides automatic legislative updates and corporate tax rate changes. The software offers centralized tax and accounting data, allowing users to analyze taxes for multiple years, jurisdictions and entities. Administrative tools include security controls and accessibility policies. The product promises to improve financial controls and audit trails to reduce risks.

“Driven by client demand for an easier way to effectively manage corporate tax and accounting processes, the Advantage platform is a new and innovative way for companies and firms to keep up with the quickly evolving tax landscape,” said Bloomberg Tax Technology vice president and general manager Ken Crutchfield in a statement. “The platform approach to Advantage enables enhancements to be rolled out quickly, encouraging collaboration across accounting, compliance, and audit teams, resulting in greater visibility and more informed decision-making, thereby dramatically improving the way tax work gets done.”

For more information, visit www.bloombergtaxtech.com/advantage.

Bloomberg Tax Advantage's State Tax Analyzer for analyzing net operating losses
Bloomberg Tax Advantage's State Tax Analyzer for analyzing net operating losses Courtesy of Bloomberg Tax

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Michael Cohn

Michael Cohn

Michael Cohn, editor-in-chief of AccountingToday.com, has been covering business and technology for a variety of publications since 1985.