How to adjust for sales tax rounding

  • Resolved pedrortiz

    (@pedrortiz)


    3 years, 5 months ago

    Hello, I need to collect sales tax in the State of Florida (U.S.), the Department of Revenue implemented a new regulation regarding the formula to be used to calculate sales tax:

    Rounding to Replace (Bracket System) in Calculation of Sales and Use Taxes

    As a result of recent legislation, the “bracket system” for calculating sales tax and discretionary sales surtax in the State of Florida is replaced by a rounding algorithm. Effective July 1, 2021, businesses collecting and remitting sales tax and discretionary sales surtax must use a rounding algorithm that: 1) carries the tax computation to the third decimal place; and 2) always rounds up to the next whole cent when the third decimal place is greater than 4. For more information, read Tax Information Publication (TIP) 21A01-02.`

    I don’t have very technical knowledge, I need your help to know how I could adjust Woocommerce to calculate the taxes according to this regulation.

    Thank you.

Viewing 2 replies - 1 through 2 (of 2 total)
  • Mirko P.

    (@rainfallnixfig)

    Hi @pedrortiz,

    Based on our experience, users running a WooCommerce store that need to collect sales taxes in the US, have found useful the TaxJar integration. You can have a look at this extension and its documentation here:

    https://docs.woocommerce.com/document/taxjar/

    Hope this will help with your requirement.

    Mirko P.

    (@rainfallnixfig)

    Hi there,

    This thread has been inactive for a bit, so I’m going to mark it as resolved now. Hopefully, the above information was helpful to you!

    Please feel free to open a new thread if you have any further questions.

    Cheers.

Viewing 2 replies - 1 through 2 (of 2 total)
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