The Streamlined Sales Tax Governing Board's Executive Committee has approved Taxometry as a certified tax service provider for all 24 of its member states. Taxometry software calculates and collects sales tax automatically for retailers, remits and reports to states and supports audits.
The Streamlined Sales Tax Governing Board's Executive Committee has approved Taxometry as a certified tax service provider for all 24 of its member states.
Craig Johnson, Executive Director of the Streamlined Sales Tax Governing Board, indicated that 'We are certainly pleased that Taxometry has developed a system that meets Streamlined's rigorous certification requirements. Getting certified by Streamlined is not an easy task and Taxometry joins an elite group of companies that are currently certified by all 24 of our member states to provide this outstanding sales tax compliance solution."
"Being certified by Streamlined is a giant leap for Taxometry because we are now able to provide retailers with a valuable tool to keep them in compliance," said Taxometry CEO John Gibson. "With this state-of-the-art software, retailers can rest assured that their sales taxes will be accurately collected and sent to the right state at the push of a button."
Streamlined's approval means that each of the 24 member states have reviewed and determined that Taxometry's software program (1) accurately determines the applicable state and local sales and use tax rates on the transactions it processes, and (2) accurately reflects the taxability of the produce categories included in the program. Under the uniform certified service provider contract that Taxometry has entered into with the Streamlined Sales Tax Governing Board, Taxometry will also set up and integrate its software with the retailer's system, prepare and file the required sales tax returns, make the required tax remittances to each state and handle any audits of the transactions it processes in the 24 member states.
Although not reviewed as part of the Streamlined certification, on the retail side Taxometry provides merchants a seamless, innovative and accurate solution for sales tax compliance by calculating and deducting the sales tax from each transaction and immediately transmitting those funds to the appropriate state or local taxing agency.
Under current law merchants are not required to collect sales tax in states where they have no physical presence. However, several efforts are afoot at the state and federal levels to change the law to require sales tax collection for all online sales.
Founded in 2013, Taxometry is a software-based solution that integrates into a merchant's shopping cart, payment portal or point-of-sale system. The Taxometry solution simplifies and automates, navigating complex, multi-jurisdictional sales tax compliance issues, including calculation, remittance, reporting, data storage, audit relief and liability mitigation.
Streamlined is a consortium of 43 states - 24 member states and 19 advisory states - whose purpose is to simplify and make more uniform member states' sales tax codes, policies, procedures, rules and regulations greatly simplifying compliance. As an umbrella organization for dozens of states its certification of Taxometry is a major step forward for the company.
Volunteer sellers that utilize Streamlined-certified software are generally immune from audit liability for the sales they process through that software. Another significant advantage is that the states cover the cost of this service for any business that is a "volunteer seller" (e.g. generally does not have a physical presence) in the member state.
"With certification from Streamlined we can offer retailers with a new, more comprehensive and innovative choice in sales tax compliance, as well as other proprietary, competitive and exclusive advantages that do not currently exist in the sales tax compliance industry," concluded Gibson.
Taxometry provides to online merchants an innovative, simplified and accurate means of calculating, collecting and remitting sales taxes to appropriate government agencies. 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 reporting, data storage, audit relief and liability mitigation.
Certified in 24 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.