Importance

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Abstract

A computer-implemented method and system for determining taxably relevant data is described. Data associated with a transaction is received. Transactions using the method may include purchase orders, invoices, and transactions involving contract labor, or goods previously removed from inventory. A taxable consequence is determined based on a jurisdiction code and a product code. A product code is assigned by iterating through a hierarchy of rules using singularly defined business rules and transactional data until an appropriate code is determined. An intermediate jurisdiction code is determined by iterating through a hierarchy of potential intermediate jurisdiction codes using the singularly defined business rules until the intermediate jurisdiction code is selected. An originating jurisdiction code is determined by processing the data associated with the transaction and the intermediate jurisdiction code. A destination jurisdiction code is determined in response to processing the originating jurisdiction code, wherein the taxably relevant data is thereby determined.

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First Claim