Sales Tax
Changes to Illinois and Maine Sales and Use Tax Assessment starting January 1, 2025 - Overview and Guide to Changes
**LTi are not tax experts. Below is the information gathered via the ELFA and supporting documents from the State of Illinois and Maine. The instructions that follow are our best attempt at complying with these change as best as we understand them. ...
Troubleshooting issues with CCH Tax Rates
Occasionally there will be a discrepancy between the tax rates in ASPIRE provided by CCH and what the finance company or customer believes the tax rates to be for a given jursidiction. This article walks through a couple of ways to troubleshoot the ...
Finance Upfront VAT
Introduced in v5.20.59 - ADO 40870 Included in the licensed module Advanced VAT. This item provides the ability to finance upfront VAT tax in order to include a portion in the rental invoices. When upfront VAT is assessed on a Capital lease ...
Deferred VAT Workaround
See attached document for complete details. The attached document provides a workaround for deferred VAT. In the provided example, the Base Case is analyzed with a typical upfront VAT with the remainder paid out by installments. Setup, amortization ...
SuperTRUMP Integration Overview
See attached documents for additional details. ASPIRE’s SuperTRUMP Server integration allows a user to calculate tax-effective yields for a lease from ASPIRE or through ASPIRE’s API. This allows the contract and equipment to be setup in ASPIRE (or a ...
Upfront Sales Tax - Contract Origination
See attached document for complete details. Instructions on how to book a deal with Upfront and financed Upfront sales tax.
Trouble shooting tips when my lease contract doesn't have Tax populating (On Stream or Upfront Tax)
This is not a comprehensive list of troubleshooting, as many situations may be very unique, but this should help you with a large majority of reasons why you aren't seeing your Tax populating. PRE-REQUISITES: Check these items first, if not populated ...
VAT Schedule Configuration + ASPIRE Usage
Please see the attached document for details. A VAT Schedule presents the upcoming 12 months of scheduled invoice activity for a given contract. VAT Schedules are produced on an annual basis on the anniversary date of the contract commencement. When ...
VAT Configuration in ASPIRE
Please see the attached document for details.
Asset Level Tax Exceptions Video
See linked video for full information. Click here to view an 11 minute video that covers adding asset level tax exceptions in ASPIRE.
ASPIRE Sales Tax Calculations Video
View the linked video for full details. The linked video walks through the standard ASPIRE sales tax calculations before and at booking, and during invoicing. Click here to view the 24 minute video.
Canadian Luxury Tax in British Columbia
See Attachment for detailed information The document will cover the following: 1. Create a Customer Account and build a location for each Variation of the British Columbia Luxury Tax 2. Then when building a contract that has the Luxury Tax ...
ASPIRE Sales Tax
See the attached document for complete details. 1. Overview The attached document is intended to be a high to medium level overview of standard ASPIRE sales tax calculation, including an overview of tax related configuration, how tax is calculated, ...