Tax Function of the Future: State and local tax predictions - Data, process and technology

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Data, process, and technology

Companies will need to automate their current tax functions, data management, and compliance operations to more quickly and accurately track state tax information. Key considerations:

  • Leveraging technology: Companies will have to better utilize technology to provide information in a tax-ready format, create tax data hubs, and provide real time determinations of taxability of earnings/deductions.
  • Data: States will increasingly demand more detailed tax reporting and further shift the burden of analyzing law and calculating tax to the taxpayer and require corporate tax departments to be be better prepared for audits.
  • Improving the process: Enhancements in technology and the increased amount of accessible data will enable the tax function to streamline and automate its processes for the entire catalog of state and local taxes. Tax departments should explore how manual processes can be minimized and improved by advances in robotics and artificial intelligence.
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Data, process and technology

TFoF: SALT-Jack Kramer-Data, process, and technology

Hear what our state and local tax leaders are saying about key state trends and predictions

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Data, process and technology

TFoF: SALT-George Famalett-Data, process, and technology

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Data, process and technology

TFoF: SALT-Janet Gagliano-Data, process, and technology

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Data, process and technology

TFoF: SALT-Tom Geppel-Data, process, and technology

What changes are expected to impact your business?

The following data, process, and technology changes may impact your business:

  • Use of data analytics to provide detailed real time reporting
  • Spreadsheets will become obsolete
  • Decision makers will demand real time state tax information for state tax planning, modeling and forecasting
  • States will demand more detailed tax reporting and shift the burden of analyzing law and calculating tax to the taxpayer
  • Need for an automated solution to track employee business travel
  • An increased focus on outsourcing and/or automation for critical indirect functional areas
  • Comprehensive indirect tax engines will be required to support international, federal, state, and local transactional tax requirements
  • The need for automation to address indirect refund opportunities
Data, process and technology

Contact us

Peter Michalowski

Peter Michalowski

State and Local Tax Leader, PwC US

George Famalett

George Famalett

Partner, National Indirect Tax Leader, PwC US

Jack Kramer

Jack Kramer

National State Income/Franchise Leader, PwC US

Janet Gagliano

Janet Gagliano

National Abandoned and Unclaimed Property Leader, PwC US

Tom Geppel

Tom Geppel

National Employment Tax Leader, PwC US

Brian Rebhun

Brian Rebhun

Asset Management Tax Leader, PwC US

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