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Forvis Mazars Launches Innovative Sales and Use Tax Platform for Construction Clients
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Subscribe22 OCT 2024 / PEOPLE UPDATES
Forvis Mazars, a public accounting and consulting firm, has created the SALT Explorer, a sales and use tax estimation platform specifically for the construction industry. This digital solution aids tax compliance, gives real-time tax estimates for project bids, and helps manage financial risks, aimed to improve efficiency and minimize risks associated with state and local tax regulations in a multi-state project environment.
Forvis Mazars, a leading public accounting and consulting firm, has launched SALT Explorer, a groundbreaking sales and use tax estimation platform tailored for the construction industry. Created by EDGE—Forvis Mazars' Innovation Lab, SALT Explorer provides accurate tax estimates for project bids, reducing financial risks and enhancing compliance with state and local tax (SALT) regulations. Designed to address the complexities of projects spanning multiple states, the platform leverages advanced technology to streamline tax compliance, helping contractors and builders manage evolving backlogs and complex tax challenges.
Key features include guided project setup, real-time tax estimates, localized tax codes, and access to Forvis Mazars' seasoned SALT advisors. The platform offers tools such as GPS-based tax jurisdiction tracking, detailed project cost breakdowns, and up-to-date tax rates from city, county, and state jurisdictions.
"SALT Explorer is a game-changer," said Jason Myers, Forvis Mazars’ national industry leader for construction and real estate. "It empowers construction professionals by delivering accurate tax estimates, critical for minimizing risk and improving efficiency."
The platform replaces outdated methods, like large PDF guides or specialized SALT teams, with a digital-first solution tailored to the construction sector, with plans to expand into additional industries. Tommy Varnell, managing director of Forvis Mazars' SALT consulting team, emphasized that this solution simplifies tax complexities, saving clients time and resources while ensuring compliance.
The new service reflects Forvis Mazars' 100 years of experience in the construction industry and further strengthens the firm's commitment to innovation.
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