Tax Information And Guide

Intuit Reports TurboTax Sales Through Feb. 19, 2005

Mountain View, Calif. - February 24, 2005 - Intuit Inc. (Nasdaq: INTU) today announced season-to-date sales for its consumer tax products and services. Through Feb. 19, total federal units, including Free File Alliance, grew 16 percent over the same period last year. Excluding Free File, federal units were up 6 percent over the same period.
"This was a very good two weeks for our TurboTax business," said Brad Smith, senior vice president of consumer tax. "We believe TurboTax is gaining momentum as our advertising campaign drives volume and share gains in both retail and on the Web."

Tax Software Intuit intends to continue issuing bi-weekly updates of its season-to-date end-user purchase data, based on Intuit's best assessment of its unit sales. The company expects to issue future reports before the market opens every other Thursday through the end of the tax season.

01 a.m. July 23, 2005, through midnight July 31, 2005, books, clothing, footwear, and certain accessories with a sales price of $50 or less per item and school supplies with a sales price of $10 or less per item are exempt from Florida sales and use tax. The exemption does not apply to sales of books, clothing, or school supplies within a theme park, entertainment complex, public lodging establishment, or airport. For more details, consult Florida Tax Information Publication No. 02 available from the Florida Department of Revenue.

Software Tax Season-to-Date TurboTax Federal Sales Data

	Comparable Prior-Year Period	Season Through 2/19/05	% Change YOY
TurboTax federal desktop units sold through at retail	3,530,000	3,809,000	+8%
TurboTax federal desktop units sold direct	1,432,000	1,330,000	-7%
TurboTax for the Web paid federal returns sold	1,465,000	1,690,000	+15%
SUB-TOTAL	6,427,000	6,829,000	+6%
TurboTax for the Web federal units donated via Free File Alliance	424,000	1,086,000	+156%
TOTAL	6,851,000	7,915,000	+16%

Can't find the right tax category for a particular expense Just choose "not sure", and at tax time you can print out a report for your accountant, who can help you make the right choices. • Tax Reporting for Schedule E Quicken Rental Property Manager automatically generates tax reports that you or your accountant can use to prepare your Schedule E tax forms. • Exports to TurboTax Software

Every Landlord Tax Deduction About Intuit Inc.

Intuit will own all right, title and interest in and to all information that is created or collected in the operation of the Intuit Site including, (i) any contact information collected from any Affiliate Originated Visitors, (the "Contact Information"); and (ii) any information collected about product sales at the Intuit Site generated through the Affiliate Link(s), (the "Sales Information").

Tax Help Intuit Inc. is a leading provider of business and financial management solutions for small- and mid-sized businesses, consumers and accounting professionals. Its flagship products and services, including QuickBooks, Quicken and TurboTax software, simplify small business management and payroll processing, personal finance, and tax preparation and filing. ProSeries and Lacerte are Intuit's leading tax preparation software suites for professional accountants.

Affiliate will not disclose any Sales Information to any third party without Intuit's prior approval.

Help Tax Founded in 1983, Intuit had annual revenue of nearly $1.9 billion in its fiscal year 2004. The company has nearly 7,000 employees, with major offices in 13 states across the United States and offices in Canada and the United Kingdom. More information can be found at www.intuit.com.

The Iowa sales tax holiday on select clothing and footwear begins at 12 a.m. on August 5, 2005, and runs through midnight August 6, 2005. Any business that is open on those days is required to participate. During the holiday, no sales tax, option sales taxes, will be collected on certain articles of clothing or footwear that have a selling price of less than $100. The exemption applies to each article priced under $100 no matter how many items are on the same invoice.

Ernst Ernst Guide Guide Tax Forward Looking Statements
Mr. Smith's statement regarding TurboTax gaining momentum is a forward-looking statement. Actual results may differ materially from our expectations due to a number of risks and uncertainties, including the inherent difficulty in accurately predicting consumer behavior; the impact of competition from federal and state government sponsored free file alliances that offer tax preparation services at no charge, competition from other desktop software providers and increased competition from a growing number of Web-based competitors, we could lose revenue and customers in our Web-based business if we fail to maintain reliable and responsive service levels or if the IRS or other governmental agencies experience difficulties in receiving customer submissions; and consumers may not respond as we expect to our advertising and promotional activities. More information on potential factors that could impact our results are included in our public reports filed with the SEC, including our Form 10-Q for the quarter ended October 31, 2004 and our Form 10-K for the fiscal year ended July 31, 2004. We assume no obligation to update any forward-looking statements or information, which speak as of their respective dates.

Tax Return The unit numbers reported are based on weekly sales reports received by Intuit from its retailers and distributors as well as the number of units sold directly from Intuit. The numbers included in these updates are preliminary and include estimates, including estimates of sales by merchants that do not report their sales to Intuit. Although Intuit takes steps to verify the reliability of the sales data, Intuit believes that errors in the sales reported by its retailers and distributors may impact its reported retail unit numbers on an immaterial basis.

Return Tax Intuit, the Intuit logo, TurboTax, among others, are registered trademarks and/or registered service marks of Intuit Inc. in the United States and other countries.

[ Comment, Edit or Article Submission ]