System for tax tracking of blended goods and related methods
US11010744B2 · kind B2 · utility
Assignee
Inventors
Key dates
| Filing date | Apr 23, 2019 |
| Grant date | May 18, 2021 |
| Priority date | — |
| Expiry date | May 15, 2039 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q40/10
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
A system for tax tracking of blended goods may include a value tracking server configured to, at a time of sale of an item including materials blended together, collect relative material quantities in the item, each of the materials having different respective tax rates associated therewith, and generate an identification (ID) for association with the item. The value tracking server may also be configured to, at a time of return, read the ID from the item to determine the relative material quantities in the item, determine a returned portion of the item, and determine a tax refund due based upon the relative material quantities, the respective tax rates, and the returned portion of the item.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.