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.