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SOVOS BUYS SHIPCOMPLIANT Featured

Jason Eckenroth, ShipCompliant Newly formed Sovos Compliance has acquired Boulder-based ShipCompliant, a compliance and tax software publisher for the alcohol beverage market. Sovos was formed in February when its owner, Vista Equity Partners, welded together TaxWare, Convey Compliance Systems and VAT Resource. We've been talking about the impact of private equity and this shows one battlefield in indirect tax; acquisition of specialized vendors. Sovos and ShipCompliant will integrate their compliance products.

The acquired company provides capabilities for handling beverage alcohol registration, tax rate determination, compliance management and reporting in the cloud.  ShipCompliant was founded in 2002 to serve wineries, breweries, cideries, distilleries and importers of beverage alcohol. In a prepared statement, ShipCompliant president Jason Eckenroth said, "Compliance with the myriad of regulations in each state is a challenge for companies in the beverage alcohol industry. But there is significant growth for those that can master those requirements, as consumers increasingly want to order their favorite brands online." The company's provides services such as winery-specific tax calculations and as the name suggests, links to shipping companies. It also offers E-file label and product registrations, available currently in Alabama, Colorado, Illinois, Kansas, New Mexico and Washington with plans to expand. There is also a break-even calculator to assess state direct shipping licenses and temperature forecasting for wine shipments.

 

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