Method to transfer sales tax in real time from point of sale to a collecting government agency

A method of entering sales and sales tax information upon a sale between a customer and a merchant and dividing sales taxes from sales revenue for real time deposit with a collecting government agency and the merchant, further comprising:

• collecting retail sales information and sales revenue at a point of sale, said retail sales information including merchant name, merchant location, customer name, customer location, type of goods purchased, type of services purchased, tips, and form of payment being one of credit card or debit card;
• assembling retail sales information from a plurality of terminals of a merchant;
• determining a geographic position of one of a merchant and a customer upon a computer system of said processor;
• selecting a tax rate from said geographic position from an electronic table of position tax rates upon the computer system of said processor, identifying the types of goods and services purchased at a retail sale, and then further selecting a tax rate from said types of goods and services purchased from an electronic table of types of goods and services tax rates upon the computer system of said processor;
• calculating sales taxes due using a selected tax rate applied to said retail sales information upon the computer system of said processor and filing of documents with a collecting government agency, and calculating commission due said processor;
• dividing sales taxes from sales revenue and commission due said processor from sales revenue upon the computer system of said processor;
• and,
• depositing sales taxes with a collecting government agency and sales revenue with a merchant by the computer system of said processor in a timely manner.