Toshiba America Electronic Components, Inc. Selected Planitax to Streamline its R&D Tax Credit Process

ALAMEDA, Calif.--(BUSINESS WIRE)--Planitax, Inc., the leading provider of tax information management solutions for corporate tax departments, today announced that Toshiba America Electronic Components, Inc. (TAEC) has selected the Planitax Horizons solution to help streamline its R&D tax credit process.

TAEC has been relying on a time-consuming manual process to collect data needed to calculate R&D tax credit, according to Mitch Nishi, senior finance manager at TAEC. “The manual process of sending e-mails with attached questionnaires was labor intensive and restrained our ability to track real time progress,” said Nishi. “We selected Planitax’s solution for its efficiency and ease-of-use. I am confident that with the help of the Planitax system, we will achieve our goal of surveying 300 people more efficiently and can increase that amount to accommodate future growth,” added Nishi.

“We are pleased to have earned the opportunity to work with an innovative company like TAEC. We often see that the data collection process poses significant challenges for companies especially in the R&D tax credit study process,” said Dan Filby, chief operating officer for Planitax. “We have designed our data collection module to enable an efficient method to survey respondents in a very user friendly format. It is not uncommon for our clients to tell us that they have cut the time spent preparing, tracking and answering questionnaires in half.”

Planitax Corporate Tax Horizons Suite includes the following modules, Tax Operations and File Manager™, Data Collector™, Global Entity Manager™, Tax Positions™, Workflow Manager™, Audit Manager™, Tax Provision Manager™ and R&D Tax Credit Manager™. The R&D Tax Credit Manager is designed for companies that file federal and state R&D tax credits. This module automates survey distribution, monitors survey responses, and calculates federal and state credits.

About Planitax

Planitax, Inc. is the leading provider of tax information management solutions and services that enable corporate tax departments to efficiently and effectively manage the data required to reduce operating costs, strengthen tax positions, improve internal controls and mitigate risks. The company's Corporate Tax Horizons suite targets a range of tax processes such as document management, data collection, entity management, FIN 48, R&D tax credit automation, tax provisions (FAS 109), audit management and other core tax functions. Thousands of corporate tax professionals in industries such as financial services, retail, manufacturing, technology and healthcare access Planitax's solutions. The company is located in Alameda, California. For more information, call 800-606-3080 or visit www.planitax.com.

Planitax, Corporate Tax Horizons and the Planitax logo are trademarks or registered trademarks of Planitax, Inc. in the United States and other countries. Other trademarks mentioned are properties of their respective owners.