Who Is Taxnexus?
Founded in Berkeley, California, Taxnexus is a financial technology service for the cannabis industry that solves real-world transactional tax compliance problems for recreational and medical cannabis taxpayers and regulators.
What Are We Doing?
Taxnexus is the first global tax management software solution aimed to help cannabis industry businesses (taxpayers) become and remain compliant with all state, county, and local transactional cannabis and sales and use taxes. Transactional taxes are the taxes imposed at the point of sale of a cannabis transaction along the product chain.
How Does It Work?
CANNABIS TAXPAYER – As a cannabis business, you are responsible to determine your cannabis tax obligations from the point of sale and file cannabis tax returns with state and local (where applicable) taxing authorities to remain tax compliant and retain your business license. Simply put, we work directly with you to automatically take in your revenue data, calculate your transactional tax obligations and timely file your cannabis tax returns. We ensure you meet security and record-keeping obligations of your tax data, and that you are audit-ready at all times.
INDUSTRY PROFESSIONALS – As an industry professional (CPA, attorney, etc.), you may apply to become a Channel Partner with us and refer taxpaying businesses as customers.
POINT OF SALE AND ERP COMPANIES – Cannabis POS and ERP software developers can adapt their existing, cloud-based offerings to Taxnexus API for cannabis businesses to calculate state, county and local cannabis taxes, track and store all tax data, and file monthly cannabis tax returns in an easy, inexpensive and compliant manner. Taxnexus API creates a financial chain of custody from the cannabis taxpayer to the state treasury.