Lafayette, LA and Norwalk, CT (PRWEB) March 18, 2014
FedTax, the creators of TaxCloud, and Information ArchiTECH, today jointly announced the immediate availability of a new TaxCloud extension for Magento, an eBay company. Magento is the world’s fastest growing open source e-commerce platform now used by over 160,000 internet retailers worldwide. The new TaxCloud extension is available for Magento Enterprise and Community Editions and has been verified through an exhaustive six-month beta program involving all versions of the Magento platform released since 2012. Magento retailers can purchase the TaxCloud extension for $99 via Magento Connect. Once installed, the extension can be configured in minutes, and retailers can begin collecting sales tax for any address in the US, with no additional costs or per-transaction fees.
The availability of a low-cost option that enables easy compliance with sales tax laws across the country for one of the most widely adopted e-commerce platforms should provoke thoughtful discussion after the House Judiciary Committee’s recent hearing on the issue of internet sales tax collection, where much of the discussion focused on fears of exorbitant costs of compliance for small businesses. State and local governments have been struggling for years to convince online retailers to collect sales tax at the time of sale, just like local retailers. At the same time, online retailers have resisted collecting sales tax because the systems necessary to comply with thousands of tax jurisdictions were prohibitively costly and complicated. While such cost and complexity concerns may have been valid in the past, they are no longer warranted.
TaxCloud’s award-winning, state-certified sales tax compliance service, determines the sales tax due at the time of sale, allows for sales tax exemptions and holidays, provides merchants with detailed collection reports, and creates and files merchants’ sales tax returns. In addition, because TaxCloud has already been certified by many states, it can indemnify businesses in the unlikely event of errors and even respond to sales tax audit inquiries on behalf of participating Magento retailers.
“Handling sales tax has always been difficult using Magento’s standard tax features. Here in Louisiana it is particularly difficult. We have a state-wide sales tax as well as specific rates which vary from one parish to the next,” said Aaron Lozier, President and CEO of Information ArchiTECH. “When we discovered TaxCloud we knew we had finally found the ideal solution for our clients. TaxCloud manages sales tax everywhere in the United States, and it is free because TaxCloud is paid by the states that want their sales tax collected. Genius!”
“We know how important the Magento e-commerce platforms are because we get calls regularly from Magento retailers asking when TaxCloud will be available for them,” said R. David L. Campbell, FedTax CEO and co-founder. He continued, “We are excited and honored that the team at Information ArchiTECH has recognized the importance of having an easy-to-use and low-cost sales tax compliance option for the Magento community.”
About Information ArchiTECH
Information ArchiTECH is a Web development company based in Lafayette, Louisiana that specializes in enterprise-level custom web and mobile applications, as well as extensions for open-source platforms including Drupal, WordPress and Magento. Information ArchiTECH’s focus is on building reliable, long-term solutions for businesses which integrate with existing technologies, and scale with growing demand and evolving processes. For more information, visit informationarchitech.com.
About FedTax
FedTax, the home of TaxCloud, was founded in 2008 to offer online businesses a free and easy way to calculate and collect sales tax. Today almost 5000 retailers use TaxCloud to manage sales tax. For more information, visit taxcloud.com.
