how to handle purchase tax for US
# ask-stanley-ai
n
how to handle purchase tax for US
c
AI generated answer (using internal Slack threads):
In NetSuite, handling purchase tax for the US can be done in a few ways. One way is to use NetSuite's US tax table. This is a built-in feature that allows you to calculate tax based on the tax rates provided by the system. Another way is to use third-party tax services like AvaTax or Reuters Onesource. These services integrate with NetSuite and provide tax calculation services. If you have vendors who do not charge sales tax for your local jurisdiction but the sales tax is still owed to the local tax authority, you can add the tax to your vendor amount. Then, you can move the tax amount using the GL plugin and remit it to the tax authority. However, it's important to note that the ability to apply tax codes to purchase transactions depends on the nexus. For example, in the US, tax codes are not typically applied to purchase transactions. For more detailed information, you can review the NetSuite document on this topic at the following link: https://suiteanswers.custhelp.com/app/answers/detail/a_id/50295 ****** Disclaimer: This response was generated by an artificial intelligence assistant based on previous conversations from multiple Slack channels, and may contain inaccuracies or mistakes. ******
Slack thread 1: here (available only if the original thread was posted in the last 90 days)
Similarity score: 0.829043388
Slack thread 2: here (available only if the original thread was posted in the last 90 days)
Similarity score: 0.814962745
Slack thread 3: here (available only if the original thread was posted in the last 90 days)
Similarity score: 0.805348396
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