Wolters Kluwer, CCH Launches CCH Apportionment Suite

RIVERWOODS, Ill., Sept. 29, 2014 /PRNewswire/ -- Wolters Kluwer, CCH today announced the launch of its new CCH® Apportionment Suite, enabling tax professionals to determine apportionment, proper sourcing of items and final calculation of specific state apportionment percentages. The innovative solution, particularly benefitting corporations with business operations in multiple locations, provides practitioners with resources to navigate evolving apportionment rules on a state-by-state basis, effectively plan for the future, and meet compliance obligations. 

In preparing state corporate income taxes, one of the most complex issues facing professionals is trying to distribute the income of multi-state corporations among the states in which they operate. Many states have changed their corporate tax rules for calculating apportionment — moving from standard criteria, where total taxable income of a multi-state corporation could be assigned to specific states, to formulas more focused on sales. As a result of this and other trends, there are substantial state-by-state differences in how corporate income is apportioned.

"Recent developments and the overall complexity surrounding apportionment planning and calculations across multiple jurisdictions creates a formidable challenge for even the most seasoned corporate tax professional," said Jennifer Lowe, Wolters Kluwer, CCH's Editorial Director for Research & Learning. "The CCH Apportionment Suite has been designed to keep practitioners in step with the ever-changing legal landscape of apportionment — making sure professionals and businesses effectively plan for the future while at the same time meeting compliance obligations."

Features, Functionality, Flexibility

• Apportionment Schedule A-Line-D Tool — The A-Line-D ("aligned") tool is designed exclusively for C-corporation apportionment schedules, including schedules related to combined reporting. Professionals can quickly and easily link to the CCH explanations relating to a specified line of an apportionment schedule by simply selecting the year, schedule/form, and line number. The tool is a key asset in helping tax professionals meet the challenges of addressing income tax issues for clients with multistate business operations
• Access to CCH Apportionment Planner — This valuable, interactive planning tool provides state apportionment percentages using either the standard apportionment formula or any special apportionment formula for manufacturers. It also provides research links to explanations in Wolters Kluwer, CCH's Multistate Corporate Income Tax Guide.
• Mobile Access — CCH Apportionment Suite users enjoy the ability to easily pinpoint specific information on-the-go via CCH Mobile™ apps. Fast answers and in-depth research are readily available when meeting with clients or working away from the office.
• Integration with CCH Smart Charts™ — More than 140 CCH Smart Charts are available, complete with links to specific, updated state tax information and answers.

For more information on the new CCH Apportionment Suite, please visit CCHGroup.com (web link) for details on how it can help save time and make apportionment calculations much more efficient.

Additionally, a free Wolters Kluwer, CCH white paper providing an overview of the apportionment process is now available. This valuable guide entitled, "State Apportionment of Business Income," points out problem areas and recent trends concerning state apportionment of corporate income. Free downloads of the white paper, as well as a complimentary issue of State Tax Review, are available by visiting CCHGroup.com/apportionment.

Other innovative corporate tax solutions from Wolters Kluwer, CCH can also be found at SalesTax.com or have a representative contact you directly.

About Wolters Kluwer, CCH
Wolters Kluwer, CCH (CCHGroup.com) is a leading global provider of tax, accounting and audit information, software and services. It has served tax, accounting and business professionals since 1913. Among its market-leading solutions are The ProSystem fx® Suite, CCH Axcess™, CCH® IntelliConnect®, CCH® IntelliConnect Direct, Accounting Research Manager® and the U.S. Master Tax Guide®. Wolters Kluwer, CCH is based in Riverwoods, IL. Follow us on Twitter @CCHMediaHelp.

Wolters Kluwer, CCH is part of Wolters Kluwer (www.wolterskluwer.com), a market-leading global information services company. Wolters Kluwer had 2013 annual revenues of €3.6 billion ($4.7 billion), employs approximately 19,000 people worldwide, and maintains operations in over 40 countries across Europe, North America, Asia Pacific, and Latin America. Wolters Kluwer is headquartered in Alphen aan den Rijn, the Netherlands. Its shares are listed on NYSE Euronext Amsterdam (WKL), on Bloomberg (WKL NA) and are included in the AEX and Euronext 100 indices. Wolters Kluwer has a sponsored Level 1 American Depositary Receipt program. The ADRs are traded on the over-the-counter market in the U.S. (WTKWY).

SOURCE Wolters Kluwer, CCH