Discussions
Join the NetSuite community to innovate, connect, and discover what’s next.
SuiteWorld brings thousands of innovators, builders, and leaders together to learn, connect, and shape what’s next. This October, explore how to build a stronger foundation for growth through inspiring keynotes, major product reveals, hands-on sessions, and unforgettable moments—all in one place for our biggest event of the year. Register now
Introducing Automated Calculation of Consumer's Use Tax for SuiteTax Engine
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
Expand your NetSuite knowledge by joining this month's Ask A Guru Live: PROCURE TO PAY. RSVP for this event now!
