OKLAHOMA CITY -- Love's Travel Stops & Country Stores Inc. has chosen FuelQuest Inc.'s ZyTax Enterprise Compliance solution to augment its excise tax filing requirements.
An industry leader with sizable wholesale and retail divisions, Love's is required to calculate complex excise tax filings on a monthly basis. With ZyTax Enterprise Compliance module in place, Love's will be able to automate and centralize the preparation and filing of its monthly returns electronically. The solution ensures accurate and efficient tax filings and keeps Love's up-to-date [image-nocss] with current tax reporting requirements in all of its tax jurisdictions around the country.
"The Enterprise Compliance solution allows us to have one centralized platform that electronically files consolidated returns for our wholesale and retail divisions," said Shane Wharton, vice president of accounting for Oklahoma City-based Love's. "The solution ensures our filings are accurate and compliant with all state and federal standards to reduces our risk and exposure to potential penalties."
By replacing a series of manual processes and data feeds, the solution enables Love's to rapidly adapt to the filing requirements of additional markets by deploying a single-source tool throughout its coast-to-coast operations.
"FuelQuest's ZyTax Enterprise solution provides Love's with powerful, accurate and reliable compliance and reporting capabilities," said John Beaty, vice president-global tax solutions for FuelQuest, Houston. "With more than 180 retail locations and a highly successful wholesale operation, our Enterprise Compliance solution will support Love's growth initiatives and allow the accounting department to focus on more value-added activities."
Love's operates more than 110 truckstops throughout a swath of about 28 states from California to Virginia, as well as 67 convenience stores in Colorado, Kansas, New Mexico and Oklahoma. Each travel stop includes a convenience store; a quick-serve restaurant such as Subway, Arby's, Carl's Jr. and Hardee's; and fuel outlets for cars, trucks and RVs.
FuelQuest provides web-based supply chain management and tax automation solutions for the global downstream energy value chain. Its supply chain offerings help clients source the lowest-cost petroleum products, optimize inventory levels, lower freight costs and improve fleet utilizations. The ZyTax solution line encompasses fuel excise tax compliance and indirect tax determination for commodities.
Members help make our journalism possible. Become a CSP member today and unlock exclusive benefits, including unlimited access to all of our content. Sign up here.