April 8, 2018

Taxnexus Situs

What is Taxnexus Situs?

Taxnexus Situs is our proprietary cannabis tax database consisting of accurate state and local cannabis tax rates based on location. There are several hundreds of evolving local cannabis business taxes in California alone, which has made it difficult for cannabis businesses to be tax compliant. Taxnexus Situs provides up-to-date cannabis tax rates you can rely on as part of the Taxnexus monthly subsscription.

Point-of-Sale Cannabis Tax Calculation

Taxnexus Situs can be easily integrated with any Point-of-Sale software to provide automated state and local excise and sales tax rates at the transaction level. It offers real-time access to accurate jurisdictional cannabis tax rates using US Postal Address or geolocation, for census-block level accuracy.

Cannabis Tax Compliance

By using Taxnexus Situs, cannabis businesses can be compliant with state and local cannabis tax laws and regulations to avoid loss of business license and/or heavy penalties. The automatic implementation of state and local cannabis tax rate updates in the Situs, cannabis businesses can apply the correct cannabis tax rates without the need for to continuously check for changes in the laws. 

Sophisticated Cannabis Tax Types

Taxnexus Situs is a sophisticated database of state and local cannabis tax rates that distinguishes between computes tax liability of products based on the type of sale (medical or recreational) and the type of product (cannabis-related or cannabis accessory).

Here is a snapshot of the Situs, which you can access at local.taxnexus.net