Business and financial management solutions provider Intuit has announced that its GoPayment mobile payment processing solution now provides geolocation-based sales tax calculations, which will help small businesses calculate taxes based on the specific location of a sale - taking into account the city, state and municipal tax codes, as well as special tax districts.
This new feature is based on Avalara's sales tax geolocation engine. It will make it easier for merchants to collect the correct data that is needed to file taxes, and aims to reduce customer service issues that are related to inaccurate tax rates as well as diminishing the risk of audits and fines.
The feature is available for GoPayment on both iOS and Android devices.
"Our customers wanted to eliminate the worry of complying with local tax rates," says Chris Hylen, vice president and general manager of Intuit's Payment Solutions division. "This newest technology uses latitude and longitude coordinates, instead of ZIP codes, to deliver the most accurate calculations available - even in the most complex jurisdictions."