|Description||FedTax invented TaxCloud.|
FedTax provides TaxCloud, a free sales tax collection, reporting, and remittance service for internet merchants selling tangible personal property (TPP) and digital goods. Our market opportunity is being expanded and accelerated by pending federal legislation that will mandate the collection of destination-based sales tax on all internet purchases.
The Problem If your state is one of the 45 that have sales tax, your online purchases are, and always have been, subject to sales tax. Online retailers have not been required to collect sales tax because two out-of-date Supreme Court opinions said it would be too difficult, but they also said that once technology can make it easy, Congress should address the issue. TaxCloud shows that collecting sales tax online is now easy, and Congress is now preparing to enact federal legislation.