||VPASP teams up with TaxCloud
Thursday, July 12, 2012
We have some great news for US merchants, we recently teamed up with TaxCloud - a sales tax management service which takes away the headache of calculating US sales tax. It is completely free of charge and easy to enable. There are no set-up fees, no transaction fees - no fees of any kind. With TaxCloud, free means free!
How can it be free, you might ask?
The states that are members of the Streamlined Sales and Use Tax Agreement have a Certified Service Provider program. As a Certified Service Provider, TaxCloud is compensated by the Streamlined states for providing sales tax services to merchants.
Once you've signed up with TaxCloud, the service will:
- Determine, in real time, the applicable sales tax rate for all your transactions
- Determine whether any items are exempt from tax
- Automatically integrate changes and updates to tax codes and rates
- Keep track of collected sales taxes to be remitted by your company every month
- Generate and automatically file all your periodic state-by-state sales tax returns
- Remit your tax payments to all applicable jurisdictions
If you want to take advantage of TaxCloud’s free automated filing and remittance features, just take two more steps after signing up:
- Make sure that your account has SSUTA features enabled
- Provide your bank account information so that we can collect your sales tax proceeds and remit them to the states
In addition to calculating the sales tax due on every transaction, TaxCloud will keep track of those taxes and prepare month-end reports for your review.