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Introducing Automated Calculation of Consumer's Use Tax for SuiteTax Engine

edited Aug 3, 2023 12:33PM in Announcements

This notice applies to customers who are using the SuiteTax and SuiteTax Engine features.

What is Changing?

Effective August 8, 2023, NetSuite is introducing new functionality that can automatically calculate your consumer's use tax.

You will be able to automatically calculate the consumer's use tax on purchase transactions. This capability can be beneficial especially when sales tax (or seller's use tax) was not charged for various reasons and the sale is not subject to exemption.

The functionality can be enabled by checking the Calculate Use Tax Automatically box. The box will be displayed on all taxable purchase transactions with a US nexus. Your selected US nexus must have the SuiteTax Engine assigned to the transaction subsidiary per transaction date. Every role with an

Regards,

@Robert Nedelkow-Oracle | NetSuite Support Community Administrator

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