Taxnexus Vocabulary

Vocabulary

Taxnexus API uses this nomenclature.

  • API Consumer — The IT system that connects to Taxnexus as a client. For example, a cloud-based POS system is an API Consumer. Postman is an API consumer. A developer who is integrating a custom on-premises system with Taxnexus API is an API Consumer.
  • Taxnexus Account — The Taxnexus Account ID of the OEM posting the transaction.
  • Account ID — Represents a single cannabis business license operating out of a single location.
  • Customer ID — An optional sub-account identifier.
  • Domain — The laws and regulations associated with a broad class of commerce. Taxnexus currently covers these domains:
    • Merchandise (regular state and local sales tax)
    • Services (labor)
    • Cannabis
    • SaaS, web hosting and online services
    • Telecom
  • Transaction Objects — Software objects that represent revenue, expenses and cash transactions for a business.
  • Tax Transactions — The atomic-level detail objects that represent tax liabilities associated with revenue and expense transactions. For example, take a single invoice. Each line item in the invoice may generate zero or more tax transactions.
  • Tax Engine — The software used to generate tax transactions. “Taxnexus” by default. When an implementation caches the calculation of the taxes and uploads batches of tax transactions, then that software system is the tax engine.
  • Ingest — Every time Taxnexus acquires transactional tax data it is associated with an ingest object. Ingest events are recorded when invoices are interactively rated one at a time or in batches. The ingest object comes in handy for deleting transactions.
  • Tax Regimen — All the information associated with a tax, including the rate, frequency of collection, taxing authority, payment information and penalty information.
  • Taxing Authority — The governmental body that has the authority to levy a tax. Includes the contact and remittance information.
  • Taxnexus Code — The pseudo-English code used to classify the domain, mode and stage of commerce for a transaction item.
  • Taxnexus Tax Type — The database object that represents a single instance of a tax regimen. When a tax regimen is altered by an authority, a new instance of the tax type is created to track remittances over time.
  • Tax RatingUsed as both a noun and a verb. To rate an invoice means to run an invoice through a tax engine and output tax transactions. A tax rating refers to output of the rating process, or a set of tax transaction objects.