Patent ID: 7716093

Claim:
A method of assessing point of sale taxation, said method comprising the steps of: (a) compiling a tax assessment database for commodities identified by uniform commodities codes, said compiling comprising the steps of: gathering uniform commodities code information and commodities description information corresponding to said uniform commodities code information from a plurality of clients; gathering tax assessment information for each of said commodities for a plurality of taxing jurisdictions; correlating said uniform commodities code information and said commodities description information with said tax assessment information; storing said uniform commodities code information, said commodities description information and said tax assessment information in a master database hosted on a computer-readable medium; comparing a client database with an archived client database hosted on a computer-readable medium; and modifying said client database to include updated tax assessment information from said master database; (b) providing a client with said modified client database; (c) assessing appropriate sales tax for commodities sold by point of sale transactions in at least one of said taxing jurisdictions in reliance upon said uniform commodities code information, said commodities description information and said tax assessment information stored in at least one of said master database and said client database.