Preferred examples of a system and method for rapid collection and distribution
of taxes are disclosed. The disclosed embodiments of the present invention provide
a system and a method for point-of-sale collection and distribution of sales taxes
on a frequent, regular basis, such as daily or weekly, or other periodic time intervals,
that can be used for face-to-face, e-commerce, telephone or other transactions.
The disclosed embodiments provide a system and a method for transferring funds
from numerous merchants to numerous taxing authorities in an efficient manner,
with each merchant seeking to transfer funds to perhaps several taxing authorities
and each taxing authority seeking to receive funds from many merchants. According
to other examples of the invention, a centralized distribution feature allows the
merchants and the taxing authorities to each communicate with a single entity or
other in transferring the funds. Therefore, efficient tax collection and distribution
may be achieved without overburdening either individual merchants or individual
taxing authorities
