New system coming to market for sales tax resolution
Taxometry announced it has joined the Electronic Transactions Association. Taxometry has developed a state-of-the-art software system that calculates and deducts sales tax automatically for online purchases, and remits the tax to the appropriate state on behalf of retailers.
The Electronic Transactions Association is the leading trade association for the payments industry, representing 500 companies worldwide that offer electronic transaction processing products and services.
"The association facilitates the open discussion for those companies in the electronic payments industry," said John Gibson, CEO of Taxometry. "ETA gives us an opportunity to educate the payment processors on the path legislation is taking and its impact to the future of remote taxation."
ETA's membership spans the breadth of the payments industry to include independent sales organizations, payments networks, financial institutions, transaction processors, mobile payments products and services, payments technologies, and equipment suppliers. ETA member companies touch, enrich and improve the lives of every consumer while making the global flow of commerce possible.
"We look forward to working in collaboration with ETA's membership to create solutions that serve this industry better," said Gibson.
Founded in 2013, Taxometry has developed a state-of-the-art software system that calculates and deducts sales tax automatically for online purchases, and remits the tax to the appropriate state on behalf of retailers. Taxometry's software-based solution integrates into a retailer's shopping cart, payment portal or point-of-sale system. It is designed to navigate the complexities of multi-jurisdictional sales tax compliance issues, including calculation, remittance, reporting, data storage, audit relief and liability mitigation.
Taxometry was certified by the Streamlined Sales Tax Governing Board (SSTGB) making it part of an elite group of companies contracted to provide its Certified Service Provider (CSP) solution in the SSTGB's 24 member states. Taxometry offers retailers ease and peace of mind knowing they are immune from audit liability for the sales processed online. Merchants will also benefit from Taxometry through the elimination of late fees and fines, and a reduction in accounting costs and clerical overhead.
For more information, visit www.taxometry.com.