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Rimini Street Announces Global Delivery of 2011-F Tax, Legal and Regulatory Update
Industry Leading Team Provides Fastest "Legislature-to-Live" SM Update Delivery Cycle; Clients Receive Updates Ahead of Software Vendors' Planned Release Dates
LAS VEGAS, December 5, 2011 - Rimini Street, Inc., the leading third-party maintenance and support provider for enterprise software, including Oracle Corporation's (NASDAQ: ORCL) Siebel, PeopleSoft, JD Edwards, E-Business Suite, and Oracle Database, and SAP AG (NYSE:SAP) software, today announced delivery of its Tax, Legal and Regulatory Update 2011-F containing critical year-end tax, legal, and regulatory changes that affect every employer and employee in North America. Like all previous tax, legal, and regulatory updates, Rimini Street provided the update ahead of the software vendors' own planned release dates for equivalent updates.
Across the U.S. and Canada, many states, territories, and provinces enacted changes effective January 1, 2012, as well as numerous year-end reporting modifications required by the Internal Revenue Service and the Canadian Revenue Agency, such as support for revised forms and electronic transmittal files. At the U.S. federal level, the 2011-F update includes changes to the Annual Allowance Amount and the Social Security Old-Age, Survivors, and Disability Insurance (OASDI) Wage Base, effective January 1st. Rimini Street will continue to closely monitor negotiations in Congress that may affect Social Security taxes and provide individual updates as necessary to all clients.
At the state level, Update 2011-F contains minimum wage increases for several states, including Arizona, Colorado, Florida, Montana, Ohio, Oregon, Vermont, and Washington. In addition, many states released new Unemployment Insurance Taxable Wage Base figures, standard deductions, exemption amounts, or withholding tax rates -- all of which were delivered in the 2011-F update. Dozens of local tax updates are also provided for municipalities in Pennsylvania, Oregon, Ohio, Kentucky, and Indiana. Additionally, extensive enhancements were delivered in this update to support Pennsylvania Act 32, which provides for the restructuring of the Earned Income Tax Collection System for Pennsylvania local governments and school districts.
As members of the American Payroll Association and Canadian Payroll Association, Rimini Street's tax, legal, and regulatory strategy and scoping team works with government organizations, secondary, and tertiary sources to ensure the latest tax and regulatory updates for more than 100 countries are immediately identified, analyzed, and scoped for development as needed. The Rimini Street development and quality assurance teams then code, extensively test, package and re-verify updates as necessary for accuracy with government agencies. This proven methodology consistently assures the fastest "legislature-to-live"SM update delivery cycle and highest quality deliverables in the industry.
"With companies facing year-end processing, Rimini Street remains committed to helping our clients around the world successfully process billions of dollars in mission-critical transactions every month with the highest quality deliverables and the fastest ‘legislature-to-live' update delivery cycle in the industry," said Brian Slepko, senior vice president, global operations, Rimini Street. "We have the proven experience and the capability to deliver tax, legal, and regulatory updates ahead of the software vendor to nearly 200 countries, and to date, have delivered more than 20,000 tax, legal, and regulatory updates to hundreds of global, Fortune 500, midmarket, and public sector clients worldwide."
About Rimini Street, Inc.
Rimini Street is the leading third-party provider of enterprise software support services. The company is redefining enterprise support services with an innovative, award-winning program that enables Oracle and SAP licensees to save 50 percent in annual support fees and save up to 90 percent in total support costs over a decade. Clients can remain on their current software release without any required upgrades or migrations for at least ten years. Hundreds of global, Fortune 500, midmarket, and public sector organizations from virtually all industries have selected Rimini Street as their trusted, independent support provider. To learn more, please visit http://www.riministreet.com/ or call within the USA (888) 870-9692 or internationally +1 (702) 839-9671.
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