Simplified sales tax compliance for retail businesses.
SpeedTax sales tax automation for Point-of-sale allows retail businesses to streamline sales tax processes and reduce sales tax compliance risk. By accessing its centrally-maintained, on-demand service, you can always count on accurate sales tax determinations. Compliance tasks are also made simple: all nexus, product taxability and company settings are conveniently managed, and online reporting and filing services accessed using SpeedTax's online administrative console.
HOW IT WORKS
Working directly from the SpeedTax console, each business location, or store, is set up in the system. Setup may also include product mapping as well as nexus configuration. SpeedTax users need only set up their locations and product categories one time, unless new stores are opened, or new product categories added.
POS INTEGRATION FEATURES
- Make correct rate determinations every time. SpeedTax starts with the street address and utilizes USPS addresses as well as Geographic Information Systems (GIS) mapping data to make the most accurate rate determinations possible.
- Keep up with frequent sales tax rule changes. With SpeedTax you never have to handle updates and upgrades to the sales tax calculation system. The service is always kept up-to-date with states’ numerous and frequent changes to rules, rates and jurisdiction boundaries, so you don’t have to.
- Factor in product taxability. There are different tax classifications and rates for different products and services, and those vary further according to the state where the sale is being made. With its rules-based engine, the SpeedTax service takes into account states where you have nexus, and ensures all applicable product taxability rules, exemptions, exceptions and any other unique variables are applied.
- Streamlined filing and remittance. With SpeedTax Plus you also get auto-generated returns, and optionally, SpeedTax handles filing to states. Plus can be elected either in combination with the Core calculation service or as a standalone service using batched sales tax data you provide.
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