RAPID TAX COLLECTION SYSTEM AND METHOD

摘要

Preferred examples of a system and method for rapid collection and distribution of taxes are disclosed. The disclosed embodiments of the present invention provide a system and a method for point-of-sale collection and distribution of sales taxes on a frequent, regular basis, such as daily or weekly or other periodic time intervals, that can be used for face-to-face, e-commerce, telephone or other transactions. The disclosed embodiments provide a system and a method for transferring funds from numerous merchants to numerous taxing authorities in an efficient manner, with each merchant seeking to transfer funds to perhaps several taxing authorities and each taxing authority seeking to receive funds from many merchants. According to other examples of the invention, a centralized distribution feature allows the merchants and the taxing authorities to each communicate with a single entity or other in transferring the funds. Therefore, efficient tax collection and distribution may be achieved without overburdening either individual merchants or individual taxing authorities

主权项

1. A system for collection and distribution of taxes comprising:
an acquiring bank's designated computer; a merchant computer; a merchant bank computer; a credit card association computer; and one or more taxing entity bank computers, each associated with a taxing entity; wherein the acquiring bank's designated computer receives transaction information from the merchant computer, wherein the transaction information includes a sales amount and location information; in response to the receipt of the transaction information, the acquiring bank's designated computer calculates the tax liability owed to each taxing entity based, at least in part, on the location information; after calculating the tax liability, the acquiring bank's designated computer coordinates a fund transfer corresponding to the sales amount and the tax liability owed to each taxing entity between the credit card association computer and the acquiring bank's designated computer; the acquiring bank's designated computer further coordinates a fund transfer corresponding to sales amount between the acquiring bank's designated computer and the merchant bank computer; and the acquiring bank's designated computer further coordinates one or more fund transfers corresponding to the tax liability owed to each taxing entity between the acquiring bank's designated computer and the one or more taxing entity bank computers.