Sales tax assessment, remittance and collection system
First Claim
1. A method of compiling a tax assessment database for commodities identified by uniform commodities codes, said method comprising the steps of:
- gathering uniform commodities code information and commodities description information corresponding to said uniform commodities code information from a plurality of clients;
gathering tax assessment information for each of said commodities for desired taxing jurisdictions;
correlating said uniform commodities code information and said commodities description information with said tax assessment information; and
storing said uniform commodities code information, said commodities description information and said tax assessment information in a master database.
9 Assignments
0 Petitions
Accused Products
Abstract
An adaptive computerized system of assessing the taxability of goods or services sold at retail or wholesale. The system has the capability to conduct an analysis of all products and/or services sold by a retailer or wholesaler either offline or online and provide the seller with the ability to monitor the tax status, including tax rates, of any goods or services sold by the seller at the point of sale or online in any number of taxing jurisdictions. The system includes a master database which links uniform commodities code technology such as UPC to tax assessment information for goods and/or services sales transactions made by any number of merchants in potentially unlimited taxing jurisdictions. The system also automatically generates tax collection and remittance reports and submit such report and the tax payment to the appropriate taxing jurisdictions.
89 Citations
87 Claims
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1. A method of compiling a tax assessment database for commodities identified by uniform commodities codes, said method comprising the steps of:
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gathering uniform commodities code information and commodities description information corresponding to said uniform commodities code information from a plurality of clients;
gathering tax assessment information for each of said commodities for desired taxing jurisdictions;
correlating said uniform commodities code information and said commodities description information with said tax assessment information; and
storing said uniform commodities code information, said commodities description information and said tax assessment information in a master database. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 29, 30, 31, 32, 33, 34, 35, 36, 37, 39, 40, 41, 42, 43, 44, 45, 46, 47, 48, 49, 50, 51, 52, 53, 54, 55, 56, 57, 59, 60, 61, 62, 63)
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15. A method of maintaining a client tax assessment database for commodities identified by uniform commodities codes, said method comprising the steps of:
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gathering uniform commodities code information and commodities description information corresponding to said uniform commodities code information from a plurality of clients;
gathering tax assessment information for each of said commodities for desired taxing jurisdictions;
correlating said uniform commodities code information and said commodities description information with said tax assessment information;
storing said uniform commodities code information, said commodities description information and said tax assessment information in a master database;
comparing said client database with an archived client database; and
modifying said client database to include updated tax assessment information from said master database.
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28. A method of maintaining a client tax assessment database for commodities identified by uniform commodities codes, said method comprising the steps of:
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gathering uniform commodities code information and commodities description information corresponding to said uniform commodities code information from a plurality of clients;
gathering tax assessment information for each of said commodities for desired taxing jurisdictions;
correlating said uniform commodities code information and said commodities description information with said tax assessment information;
storing said uniform commodities code information, said commodities description information and said tax assessment information in a master database;
accessing said master database by a client, said client inquiring as to the tax assessment characteristics of at least one item of uniform commodities code information;
comparing said at least one item of uniform commodities code information with said master database; and
modifying said client database to include updated tax assessment information from said master database for said at least one item of uniform commodities code information for at least one taxing jurisdiction of interest to said client.
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38. A method of determining the tax status for commodities identified by uniform commodities codes, said method comprising the steps of:
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obtaining uniform commodities code information and commodities description information corresponding to said uniform commodities code information, wherein said uniform commodities code information and said commodities description information are gathered from a plurality of sources;
obtaining tax assessment information for commodities in desired taxing jurisdictions;
obtaining jurisdictional boundary information for said taxing jurisdictions;
correlating said uniform commodities code information, said commodities description information and said jurisdictional boundary information with said tax assessment information to determine the tax status for said commodities in said taxing jurisdictions.
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58. A method of compiling a jurisdictional boundary database for desired taxing jurisdictions, said method comprising the steps of:
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obtaining postal code data associated with said desired taxing jurisdictions;
obtaining latitude and longitude coordinates data associated with said desired taxing jurisdictions; and
combining said postal code data and said latitude and longitude coordinates data to establish latitude and longitude coordinates data for jurisdictional boundaries of said taxing jurisdictions.
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64. A method of compiling a jurisdictional boundary database for desired taxing jurisdictions, said method comprising the steps of:
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obtaining postal code data associated with said desired taxing jurisdictions;
obtaining census data associated with said taxing jurisdictions and processing said census data such that counties receive a unique Federal Information Processing Standard (FIPS) code and smaller jurisdictions receive a unique Minor Civil Division (MCD) code; and
combining said postal code data and said census data to establish FIPS and MCD code data for jurisdictional boundaries of said taxing jurisdictions. - View Dependent Claims (65, 66, 67, 68, 70)
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69. A method of determining a tax status for a commodity, said method comprising the steps of:
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identifying a physical address related to purchase of at least one commodity;
assigning latitude and longitude coordinates to said physical address;
comparing said latitude and longitude coordinates with taxing jurisdiction latitude and longitude coordinates boundary data to determine a taxing jurisdiction for said physical address; and
applying a tax status to the commodity that is appropriate for the taxing jurisdiction in which said physical address is located.
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71. A method of determining a tax status for a commodity, said method comprising the steps of:
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identifying a physical address related to purchase of at least one commodity;
comparing said physical address with at least one of a Federal Information Processing Standard (FIPS) code and a Minor Civil Division (MCD) code to determine in which taxing jurisdiction said point of delivery address is located; and
applying a tax status to the commodity that is appropriate for the taxing jurisdiction in which said physical address is located. - View Dependent Claims (72)
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73. A method of determining a tax status for a commodity, said method comprising the steps of:
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identifying a physical address related to purchase of at least one commodity, said physical address including a ZIP+6 code;
comparing said ZIP+6 code with a compilation of ZIP+6 codes to determine a taxing jurisdiction for said physical address; and
applying a tax status to the commodity for the taxing jurisdiction in which said physical address is located. - View Dependent Claims (74)
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75. A method of conducting a commodities sales transaction via a broadband network, said method comprising the steps of:
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electronically providing, by a merchant, commodities for purchase using the broadband network;
electronically selecting, by a purchaser, at least one of the commodities for purchase using the broadband network;
electronically providing, by a merchant, a menu of sales tax exemption codes for each of the commodities electronically selected for purchase by the purchaser; and
electronically selecting, by the purchaser, an appropriate sales tax exemption code from said menu for each of the commodities electronically selected for purchase by the purchaser. - View Dependent Claims (76, 77, 78, 79, 80, 81, 83, 84)
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82. A method of assessing, collecting and remitting sales tax for commodities, said method comprising the steps of:
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receiving, by a merchant and from a purchaser, a purchase selection for at least one commodity, said purchase selection including a physical address related to purchase of said at least one commodity and uniform commodities code information for said at least one commodity;
transmitting, by the merchant, said physical address and uniform commodities code information for said at least one commodity to a system administrator including a master database, said master database including (i) said uniform commodities code information associated with said at least one commodity, and (ii) tax status information associated with said at least one commodity for a taxing jurisdiction in which said physical address is located;
determining and applying, by the system administrator, the tax status for said at least one commodity in said taxing jurisdiction;
transmitting, from the system administrator to the merchant, the tax status for said at least one commodity in said taxing jurisdiction;
directing, by the merchant, transfer of transactional costs and tax for said at least one commodity in said taxing jurisdiction from a lending institution chosen by the purchaser to a bank chosen by the merchant; and
remitting, by the bank chosen by the merchant to an escrow account of said taxing jurisdiction, the tax for said at least one commodity. - View Dependent Claims (85, 86, 87)
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Specification