Patent ID: 8676675

Claim:
A combined sale and tax transaction server system, comprising: a processor; a computer-readable storage medium having instructions embodied thereon, which when executed, cause the processor to perform a method comprising: receiving a record of a confirmed offer of sale from a first computer associated with a seller, the record including a first identifier identifying the tax jurisdiction in which the sale will be transacted and a second identifier identifying the location of a buyer; calculating the tax due on the sale transaction based on tax rate and taxing event data for a plurality of tax jurisdictions and the first and second identifiers; identifying, based on data in the record, a net component and a tax component after calculating the tax due on the sale transaction; committing a settlement agency server of the buyer to execute payment of the net component to the seller and committing the settlement agency server of the buyer to execute payment of the tax component to a tax collection agency such that the payments of the net component and the tax component appear as a single transaction to the buyer; committing the settlement agency server of the buyer to identify the seller and the sale transaction details during the payment of the tax component such that seller's summary tax returns related to the tax and the sale transaction are not subsequently reported from the seller to the tax collection agency; and storing details of the sale transaction and of the calculated tax due for payment associated with that transaction.