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SOVOS ACQUIRES LTAX Featured

Sovos, which market indirect tax software applications, has acquired LTtax. Terms were not disclosed.

Based in New York, LTTax provides payroll and unemployment tax software for large retailers, financial institutions and insurers operating in the United States. Sovos said the acquisition of LTtax’s withholding capabilities for wage income to complements it prior its own non-wage income withholding applications. Sovos said that along with its acquisitions of ETM, Booke and Keane, Sovos serves the majority of American insurance companies and with the addition of LTtax is will support withwithholding from annuity and pension distributions, nonresident alien and Foreign Account Tax Compliance Act 

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