GoPayment Uses Geolocation to Help Small Businesses Determine Local Sales Tax

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Mobile Credit Card Payment App Delivers Spot-on Calculations; Eliminates Worry and Hassle of Getting Taxes Wrong

MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)-- Small businesses on the go want to focus on making sales – not worry or waste time looking up local sales tax rates.

GoPayment (Photo: Business Wire)

GoPayment (Photo: Business Wire)

To help with this, Intuit Inc. (Nasdaq:INTU) today announced that its GoPayment mobile credit card payment offering is among the first to provide geolocation-based sales tax calculations. Using this technology, GoPayment helps small businesses get paid confidently wherever they are by accurately calculating taxes based on the precise location of a sale, taking into account the city, state and municipal tax codes, as well as special tax districts.

To help eliminate the worry and hassle of getting taxes wrong, this sales tax geolocation feature reduces customer service issues related to incorrect tax rates and mitigates audit risks and fines. It also makes it easier to collect the data needed to file taxes and be compliant. The technology is based on Avalara’s AvaTax sales tax geolocation engine.

“Our customers wanted to eliminate the worry of complying with local tax rates,” said Chris Hylen, vice president and general manager of Intuit’s Payment Solutions division. “This newest technology uses latitude and longitude coordinates, instead of ZIP codes, to deliver the most accurate calculations available – even in the most complex jurisdictions.”

The geolocation sales tax feature is now available for GoPayment for the iPhone, iPad and iPod touch as well as GoPayment for Android devices. More information is available at GoPayment.com.

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About Intuit Inc.

Intuit Inc. is a leading provider of business and financial management solutions for small and mid-sized businesses; financial institutions, including banks and credit unions; consumers and accounting professionals. Its flagship products and services, including QuickBooks®, Quicken® and TurboTax®, simplify small business management and payment and payroll processing, personal finance, and tax preparation and filing. ProSeries® and Lacerte® are Intuit's leading tax preparation offerings for professional accountants. Intuit Financial Services helps banks and credit unions grow by providing on-demand solutions and services that make it easier for consumers and businesses to manage their money.

Founded in 1983, Intuit had annual revenue of $3.9 billion in its fiscal year 2011. The company has approximately 8,000 employees with major offices in the United States, Canada, the United Kingdom, India and other locations. More information can be found at www.intuit.com.

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Intuit Inc.
Sharna Brockett, 650-944-3856
sharna_brockett@intuit.com
or
Access Communications
Jen Garcia, 415-844-6244
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Source: Intuit Inc.

Released May 24, 2012