Methods, devices and systems for taxable basis implementation

A computer system for determining a taxable basis amount in a transaction having a line amount, the computer system comprising:

• at least one processor;
• at least one data storage device coupled to the at least one processor;
• a plurality of processes spawned by said at least one processor, the processes including processing logic for:
• providing and evaluating a plurality of taxable basis formulae, one taxable basis formula for each of the plurality of applicable taxes that includes at least one of inclusive and exclusive taxes, each taxable basis formula being configured to derive an adjusted line amount such that a sum of the adjusted line amount and tax amounts of the inclusive taxes equals the line amount of the transaction;
• storing the plurality of taxable basis formulae in a database;
• selecting one of the stored taxable basis formulae for each of the applicable taxes for the transaction line;
• applying the selected taxable basis formula to a line amount of the transaction to compute the taxable basis of the transaction, and
• storing the taxable basis of each of the applicable taxes of the transaction line in the database.

A machine-readable medium having data stored thereon representing sequences of instructions which, when executed by a computing device, causes the computing device to determine a taxable basis amount in a transaction having a line amount, by performing the steps of:

• providing and evaluating a plurality of taxable basis formulae, one taxable basis formula for each of the plurality of applicable taxes that includes at least one of inclusive and exclusive taxes, each taxable basis formula being configured to derive an adjusted line amount such that a sum of the adjusted line amount and tax amounts of the inclusive taxes equals the line amount of the transaction;
• storing the plurality of taxable basis formulae in a database;
• selecting one of the stored taxable basis formulae for each of the applicable taxes for the transaction line;
• applying the selected taxable basis formula to a line amount of the transaction to compute the taxable basis of the transaction, and
• storing the taxable basis of each of the applicable taxes of the transaction line in the database.