With Exercise.com’s business tools, you can monitor your tax obligations automatically while processing payments online or in person. Stripe Tax integrates directly with your Exercise.com for Business account to simplify your tax compliance process. Here’s how to set everything up.

1. Contact your CSM to confirm this setup is right for your business.

If you already have flat-rate taxes enabled, switching to Stripe Tax will change your current setup. Your CSM can help determine whether this is the best option.

2. Once your CSM enables Stripe Tax, expand the Account tab.

Click the down arrow next to the Account tab on your left side menu to expand your options.

3. Open Account Settings

Click “Account” to open your account settings.

4. Open Stripe Settings

Click “Stripe” to access your Stripe configuration.

5. Manage Stripe Tax

Click “Manage” to open your Stripe Tax settings.

6. Add your business address

Click the “Add address” link to enter your business address.

7. Add your tax address

Click “Add tax address.” The location of your business may determine where you are required to collect sales tax, VAT, or GST. If you sell physical goods, this may also be the location you ship from.

8. Set your product tax code

Click “Add” or “Edit” to set a default tax code for the products, services, and memberships you sell on your platform.

9. Define your default tax settings

Set your default tax preferences for products and pricing. You can adjust these settings at any time. To ensure full compliance, consult a tax professional when choosing your tax codes.

10. Add tax registrations

Click “Add registration” to register for automatic tax collection in the locations where you are required to collect sales tax.

11. Set up registrations for each state where you have customers

Sales tax will be applied automatically when a customer checks out in a location where you have an active registration.

12. Stripe Tax will monitor potential obligations outside your registered areas

Stripe Tax will alert you if you approach a threshold that may require you to register in a new location.

13. Customers will enter their address at checkout if needed

If a customer does not already have an address on file, they will be prompted to enter one at checkout to ensure accurate tax calculation.

14. Sales tax is applied automatically

If a customer’s address requires sales tax and you have an active registration for their location, Stripe Tax will apply it automatically at checkout.

With Stripe Tax set up, you can confidently automate your tax compliance and reduce manual work. You now have your tax address added, your default settings configured, and your tax registrations in place. This helps ensure accurate and automatic sales tax collection across your business.

FAQ

How much does Stripe Tax cost?

Stripe Tax charges per use. For one-time charges, there is a small fee when a transaction requires sales tax calculation. For subscription charges, you’ll be charged a small percentage of the transaction amount when sales tax applies.

Does Stripe Tax track when I meet economic nexus thresholds?

You must register with each tax authority where you collect taxes. Some locations require registration before your first sale, while others require registration only after meeting a threshold.

Stripe Tax alerts you when you approach tax thresholds, such as $10,000 in yearly revenue in the U.S. Learn more about threshold notifications.

Does Stripe Tax file or remit sales tax for me?

No. You must report, file, and remit taxes in every location where you are registered. Stripe Tax provides itemized reports to help with filing.

Learn more about reporting, filing, and remitting taxes.

How to Set Up Stripe Tax on Your Platform