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Online Tax Calculation

2004-05-06
 

An important part of ecommerce transaction is tax calculation. Tax are governed by complex US laws and international laws. Tax rates change over time. In US, tax consists of federal, state or local tax. There're many types of taxes, however ecommerce is mostly concerned about Sales tax and use tax. Tax on a particular product or service depends on the type of the product/services, the location (nexus) where the product/services are originated, and the location where products are shipped to.

The choice of implementation of tax calculation is to integrate ecommerce applications with major tax software vendors. The vendors usually update tax rates every quarter to reflect the latest changes in tax regulations. Software from Taxware, VerTax and CyberSource all prove Java API for tax calculation.

Taxware

"Taxware is a leading developer of global transaction-based tax calculation and compliance systems. Our software solutions simplify tax accounting procedures so that businesses around the world can minimize the risks and costs associated with sales/use tax, consumer’s use tax, and value added tax (VAT) compliance. "

"Taxware’s automated systems offer a broad range of features and capabilities to protect against audits, process exemptions, automate returns and filings, assign taxing jurisdictions, calculate taxes on e-commerce transactions, manage product taxability rules, and stay up-to-date on ceaseless changes to tax laws."

Vertex

"Vertex’s technology solutions address every major line of business tax, including income, sales, consumer use, value added, communications, payroll, and property tax. Our solutions, along with our partnerships, are helping bring a powerful global tax network to life. A network that serves all parties involved in the tax process, across all major corporate taxes. And we not only partner with leading software providers like Microsoft, SAP, Oracle, and PeopleSoft to provide their customers with innovative tax software solutions, but these same companies also use Vertex solutions internally."

CyberSource

CyberSource Tax Services provide tax calculation for the United States, Canada, and the main European countries.



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