Taxually enters the U.S. Sales & Use Tax market by acquiring LumaTax

LONDON, April 12, 2023 /PRNewswire/ -- Taxually, one of the leading European cloud-native VAT software providers, is pleased to announce that Califonia based LumaTax has joined their family of Enterprise-grade automated tax software solutions. This acquisition will enable Taxually to accelerate growth globally across both Enterprise and E-commerce segments and to further expand its leading indirect tax product suite.

LumaTax, developed by some of the industry's leading experts, has built an enviable reputation as a pioneer in sales and use tax (SUT) automation, supporting Enterprises and leading accounting practices across the United States and around the world.

With LumaTax, customers are empowered to:

• Fully understand their Sales and Use Tax filing and remittance obligations across the whole of the United States within just a few minutes
• Automate the consolidation, clean-up, and review of transaction data
• Apply for multi-state registrations online
• Quickly and seamlessly prepare and file SUT returns in any state
• Reconcile their accounts

Over recent years, sales tax obligations and their complexity have increased dramatically due to the precedent set by the South Dakota vs Wayfair decision. The tax authorities are applying increased scrutiny to compliance as the economy recovers post pandemic, which has driven customers to seek an efficient, scalable and cost-effective tax solution. LumaTax meets and solves these requirements.

By acquiring LumaTax, Taxually is not only combining best-in-class tech teams and tax experts, but also building for its clients an end-to-end VAT and Sales and Use Tax solution to address enterprise clients and e-merchants' needs both in the US and the European markets. With this acquisition, Taxually shows its relentless effort to continuously build the best technology solution for its customers, opening new geographies and expanding its product scope.

"LumaTax and their team share the same values as us: to provide their customers with industry leading technology supported by deep tax expertise which is focused on making tax compliance easy. Integrating LumaTax's offering into our wider Taxually product suite allows us to provide a truly global VAT and Sales and Use Tax solution to our combined client base." Mike Glover, Taxually Chairman

SOURCE Taxually