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Corptax for Insurance Tax Professionals

Targeted tools for insurance tax

Why struggle in Excel® or separate systems when you can meet separate and consolidated requirements for life, non-life, and property and casualty reporting in a single system?

With NAIC-compliant workpapers, forms, calculations, and reports, insurance tax professionals can easily:

  • Separate GAAP-to-STAT reporting

  • Break out Capital vs. Ordinary

  • Schedule deferreds, and so much more!

That's why one customer calls CSC Corptax® "far and away above the competition!"

Provision for insurance

Reviews for Corptax Provision tell the story—"with SSAP 101 calculations in the software, we can do the statutory accounting required" and "we use the SSAP 101 provision to its full capabilities—from advanced posting for STAT reserves, to running the entire analysis in Corptax, to populating the workbook for our annual statement software."

Streamline the process by automating how you get, use, and manage data for quarterly and annual provisions, and get instant true-up results with presentation of GAAP-to-STAT and capital vs. ordinary. Easily forecast statutory close cycles and use provision data to launch compliance without rekeying.

  • Quickly schedule deferreds and get detailed analyses of assets and liabilities

  • Recall and easily record return and provision data in a single report for fast analysis of true-up

  • Analyze and instantly update admissibility of deferred tax assets with enhanced capital vs ordinary splits, including rate reconciliation

Plus, Corptax Provision gives you the ability to:

  • Record capital equity activity to system-defined accounts—organize and report activity with ease

  • Schedule DTA reversals at adjustment level to accurately calculate admissibility under SSAP-101

  • Group entities together and schedule DTA reversals to streamline your admissibility calculations

Compliance for insurance

Save your team time and trouble with tailored-to-insurance tools for separate and consolidated reporting for life, non-life, and property and casualty tax returns.

Automate consolidation of all sub-groups and present consolidated data including NOLs for life and non-life. You'll appreciate the efficient alternative to rigid, multiple-step processes for consolidating non-insurance and insurance companies.

The powerful general ledger interface lets you automate data import from virtually any system and start processing returns immediately. Collect data beyond the NAIC annual statement to facilitate line of business reporting.

Plus, the multi-year, multi-dimensional database makes it easy to create, maintain, and access vast amounts of tax information historically and currently for tax and financial analyses and planning.

It's no wonder insurance tax preparers say, “I would encourage anyone to use Corptax—there's so much you can do with it. We pull data out as easily as we put data in.”

View the Corptax for Insurance webinar to learn more.