Stac Media, Inc.

Stac Ip, LLC

Pino Luongo

William E Gordon

Jack Kane

Described are technologies relating to transaction processing. In general, one aspect of the subject matter described herein can be embodied in methods that include the actions of calculating, in relation to a transaction, one or more tax amounts associated with a price of the transaction, obtaining, in relation to a payment source, an approval for at least the price of the transaction and the one or more tax amounts, thereby defining an approved sales transaction, and, subsequent to obtaining the approval, (a) settling at least a revenue portion of one or more approved sales transactions in favor of a first account, and (b) settling the one or more tax amounts in favor of a second account that is different than the first account.

Automated sales tax payment system

A transaction processing system suitable for processing a merchant transaction includes a computer having a processor, a memory, a plurality of connections over a network for receiving and settling the merchant transaction; and a separator module operative to separate funds associated with the merchant transaction. The separator module further includes a revenue settlement module operative to settle a revenue portion of the merchant transaction in favor of a first account accessible over the network, the first account being associated with the merchant; a tax settlement module operative to settle the tax portion associated with the merchant transaction in favor of a second account accessible over the network, the second account being different than the first account; and a fee resolution module operative to resolve fees associated with operation of the tax settlement module, such that an amount equal to the tax portion is settled in favor of the second account.

System and method for allocating charges away from a tax account

Automated tax payment system

A computer-implemented transaction processing system includes a card reader and a plurality of modules each comprising code that executes in the processor. The card reader transfers credit card data from a credit card of a customer to a memory of the computer. A check presentation module is operative to calculate a sales tax associated with a price of a product sold to the customer. An approval module is operative to obtain an approval against the credit card data in the memory for at least the price of the product and the sales tax and thereby define an approved sale transaction. A revenue settlement module and a tax settlement module are operative to settle respective portions of the sales transaction(s) to different accounts, such that a revenue portion goes to a first account free of any sales tax, and a sales tax portion goes to the other account.

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Purchase, NY, United States of America

Pino Luongo