Customs duty and tax estimation according to indicated risk tolerance
US12277583B1 · kind B1 · utility
Assignee
Inventors
Key dates
| Filing date | Feb 7, 2024 |
| Grant date | Apr 15, 2025 |
| Priority date | — |
| Expiry date | Feb 7, 2044 |
Classification
- Technology area (CPC H)Electricity
- CPC primaryH04L67/01
- WIPO fieldComputer technology
- WIPO sectorElectrical engineering
Abstract
A service engine of a processor-based system determines an estimated amount of taxes due in association with a proposed transaction based on a risk tolerance value specified by a party to the transaction, such as a seller. Multiple classification code queries are generated for classifying an item that is the subject of the proposed transaction, from which a plurality of classification code candidates are determined. Each such classification code candidate is considered in determination of multiple corresponding possible tax-due amounts, and the taxes due for the proposed transaction are determined by the service engine based on a statistical calculation corresponding to the specified risk tolerance value. The service engine provides the estimated tax due amount to one or more parties to the proposed transaction.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.