By Jennifer Margettes - July 3, 2013
Tennessee is among one of the few states with tiered tax rates. Lately there have been questions from a few of our Tennessee customers asking if Deal Pack correctly calculates county tax. The answer is yes. For each county, Deal Pack allows you to enter the starting and ending taxable dollar amounts of the first and second tiers, and then enter the tax rates for those tiers. Once you have that information entered, Deal Pack does the rest of the work for you. So how does Deal Pack know which county tax rate to use? The zip code. Once the zip code is entered, the system will automatically know which tax rate it needs to apply for that county. For retail deals, you have the option to select the county from a drop down menu. For leases, you can find the calculated county tax amount located in the other taxes field in the Quick Lease I Screen.
Please do not hesitate to call our Support Team at 800-526-5832 if you have any questions!
ABCoA is a Software-as-a-Service company dedicated to the subprime industry. Our cloud-native ecosystem handles every part of business operations - improving productivity, security and accuracy, while consolidating vendors and reducing costs.
Since 1983, ABCoA has helped buy here pay here used car dealerships and subprime finance companies eliminate duplication, remain compliant, and achieve success with complete, customer-driven software and dependable support. Customers properly using Deal Pack have never lost an IRS audit.
Recently awarded Top Online Accounting Software for Deal Pack, ABCoA continuously elevates the standard for software in the subprime industry and helps customers grow through our commitment to quality, innovation, and service. Headquartered in Jacksonville, Florida with employees across four states, we remain family-owned and operated.
To learn more about ABCoA, visit www.abcoa.com.
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