Sales Tax Calculation Module

Sales Tax Calculation Software

Sales Tax Calculation Real-Time

Accurately determining the taxability of a sale in real time, and without impeding the flow of the transaction, is a very complex process, stemming from the many issues that affect the sales tax nexus determination. These issues range from establishing the location of the transaction with high levels of accuracy; identifying the products and services being sold; and the parties involved in the transaction.

Many systems determine transaction location by using the zip or zip+4 alone. This is inaccurate. With over 10,000 taxing jurisdictions in the U.S. alone, using zip will oftentimes result in applying incorrect taxes to a transaction. Only a system that determines the location of the transaction using the actual physical address, rather than relying on zip or zip+4 alone, assures you that the correct tax location is identified, and with it, the correct taxes are applied to the transaction.

Once the location is identified, it is not enough to simply apply a sales tax rate to the sales amount. The tax engine needs to evaluate the sales tax rules for each product being sold:

Only the tax engine that looks at each line item and determines the taxability and sales tax rules of each line item assures you that the correct sales tax rate is applied.

This is no small task, but the Exactor Sales Tax Calculation Module can do it all, with ease and efficiency, all this in real-time, without slowing down or impacting a sales transaction, completely transparent to the buyer.

The Exactor Sales Tax Calculation Module will improve accuracy and reliability of your sales tax calculation. To achieve these results, the Exactor Sales Tax Calculation Module:

  • Cleans and validates a physical address using a proprietary system certified by the US Postal Service for its accuracy;
  • Determines a location of a transaction by the actual physical address;
  • Evaluates tax rules for each line item within a sale transaction;
  • Analyzes whether each product taxable or tax-exempt;
  • Checks if there are any special sales tax rates that should be applied;
  • Tracks whether a purchased product is subject to any min or max threshold;
  • Ascertains if there are any sales tax holidays that should be applied to a sales transaction;
  • Verifies whether a buyer is exempt from taxes.

The Exactor Sales Tax Calculation Module will then calculate sales tax in real time and insert the taxes into a sale transaction.

Easy and seamless integration of the Exactor Sales Tax Calculation Module into any business and transaction platform where real time calculation is required makes it popular among lots of businesses. Exactor provides the integrations for eCommerce shopping carts (e.g. Commerce Kickstart sales tax solution), accounting programs (e.g. QuickBooks sales tax software), ERP systems (e.g. NetSuite sales tax module). Exactor’s automated wizards provide seamless integration into numerous systems, and Exactor’s Sales Tax API provides easy integration into even more customized environments.
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