EfficiencyNext LLC Receives Approval for QHTC Status

Posted by on Jan 31, 2016 in Press Releases | Comments Off on EfficiencyNext LLC Receives Approval for QHTC Status

EfficiencyNext LLC has recently received approval for certification as a QHTC (“Qualified High Technology Company”) in Washington DC. This designation brings a variety of benefits to EfficiencyNext and its customers. Not least of which is the exemption on sales tax for services EfficiencyNext provides other companies who are also located within Washington DC.

Paul Katz, President of EfficiencyNext, explains this key benefit: “When a for-profit in Washington DC consumes Data Processing Services or Information Services from a vendor, they are often subjected to a 5.75 percent sales tax. If the same company purchases those services from a QHTC, such as EfficiencyNext, the sales tax is waived”.

The concept of QHTCs goes back to The New E-Conomy Transformation Act of 2000; this legislation aimed to foster the development of a high tech sector within Washington DC itself. EfficiencyNext is proud to be part of that sector today.