GEM Oil & Gas Matrix
Are you properly charging sales tax on all products and services in each jurisdiction?
State determination
Each GEM item includes statutes, regulations, administrative rulings and courts cases that are the current basis for the tax determination. This information is provided to you for reduce audit risk.
State tax rules
State tax rules determine taxability. Each state's tax rules are part of the GEM Matrix. Selling in Wyoming? GEM Wyoming Matrix includes drilling phases.
Granular item description
Each GEM item description is very granular. GEM item descriptions are very similar to actual oil and gas products and services descriptions. This reduces the risk of mapping error.
GEM Standards
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Point of sale
Each GEM Matrix is assigned a point of sale based on state law. Origination based state sourcing is sourced at the permitted location or other statutory place of business. Destination sourcing is sourced at the job site or well site. Hybrid sourcing is complicated but included.
Special tax rates
GEM Matrix includes special tax rates. Special tax rates are enacted rates for a specific service or product. Mississippi has a special tax rate for gross receipt for construction projects.
Exemptions
GEM Matrix includes statutory exemptions for each product or service that is tax exempt. Exemption certificate forms are conveniently linked to the correct exemption certificate.
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GEM Standards
General Ledger
GEM Matrix does not require any changes to your general ledger accounts.
BYOM
Bring your own mapping. You may bring your own mapped items and get all the benefits of GEM sales tax calculation.
How do I start?
You will send to GEM a spreadsheet of your items and GEM will start mapping your items.
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GEM Standards
Do you have a tax question for GEM? Great! Ask GEM a tax questions.
