Region profile
Fifty states,
one sales-tax engine.
US sales and use tax by destination, 1099-NEC contractor tracking, and GAAP-style statements in USD. Pick the United States profile and the right tax follows onto every invoice.
No federal VAT, fifty-plus rulebooks
Sales tax, set at the state and city line.
The United States has no national VAT. Sales and use tax is set by each state, and most states let counties, cities, and special districts add their own rate on top, so a single ZIP code can carry three or four layers. Vinance keeps a rate table by destination, reads the ship-to address on each invoice, and applies the right combined rate automatically. Sales into the handful of states with no statewide sales tax, such as Oregon, Montana, and Delaware, come through untaxed.
- Combined state, county, city, and district rates by destination
- Origin or destination sourcing, whichever your state uses
- Taxable, non-taxable, and exempt lines on the same invoice
- Exemption certificates recorded against tax-exempt customers
INVOICE 2041
Vinance reads the ship-to address, applies the combined state and local rate for that destination, and posts the tax to a sales-tax-payable account, not to revenue.
A return per state, not a spreadsheet
What you collected, split by where you owe it.
Because every taxed line posts to a sales-tax-payable account, your liability is a live report rather than a quarter-end reconstruction. Vinance groups what you have collected by state and jurisdiction, separates taxable from exempt sales, and gives you the figures each authority asks for. When you register in a new state after crossing its economic-nexus threshold, add it to the profile and it starts tracking from that day.
- Tax collected grouped by state, county, and district
- Gross, taxable, and exempt sales broken out per jurisdiction
- Every figure drills down to the invoices behind it
Contractors and year end
1099s that add themselves up as you pay.
Pay unincorporated contractors and you likely owe them a 1099-NEC when the year is up. Mark a vendor as reportable and Vinance keeps a running total of the payments that count, honoring the reporting threshold, so the January scramble becomes a list you check rather than a shoebox you empty. The same books produce GAAP-style financial statements: an income statement, a classified balance sheet, and a cash-flow statement your accountant will recognize.
- Vendors flagged for 1099-NEC, with reportable totals tracked live
- 1099-NEC amounts and a 1096 summary ready at year end
- GAAP-style income statement, balance sheet, and cash flow
Flag a vendor as a contractor and Vinance tallies reportable payments through the year, so the 1099-NEC totals and 1096 summary are ready in January instead of reconstructed from receipts.
What the US profile sets up
Pick United States, and this follows onto every document.
One choice configures the tax engine, the money format, the reports you file, and the statements you hand your accountant.
Jurisdictions
Federal, all fifty states plus the District of Columbia, and the thousands of county, city, and district rates layered on top. States without a statewide sales tax are handled correctly.
Tax regime
Sales and use tax, not VAT. Origin or destination sourcing per state, economic-nexus tracking, and taxable, exempt, and resale treatments on every line.
Currency
US dollars as your base currency, shown as $1,234.56 with two decimals and comma thousands. Invoice customers abroad in their currency while your books stay in USD.
Tax reports
A sales-tax summary per state ready to file with each authority, plus 1099-NEC contractor totals and a 1096 summary built from your vendor payments.
Compliance
GAAP-style financial statements out of the box: an income statement, a classified balance sheet, and a cash-flow statement, all built from the same double-entry ledger.
Language & format
US English, MM/DD/YYYY dates, and US number and currency formatting throughout the app and on every document you send.
Frequently asked questions
Does the United States have VAT?
No. There is no federal VAT or national sales tax in the US. Sales and use tax is set at the state level, and most states let counties, cities, and districts add their own rate. Vinance applies the combined rate for each destination.
How does Vinance calculate the right sales tax rate?
It keeps a rate table by jurisdiction and reads the ship-to address on each invoice, then applies the combined state, county, city, and district rate for that destination. You can mark lines as non-taxable or exempt, and record exemption certificates against tax-exempt customers.
Can Vinance track sales tax across several states?
Yes. Add each state where you are registered to the region profile and Vinance groups what you collect by state and jurisdiction. When you cross a state's economic-nexus threshold and register there, add it and tracking starts from that date.
Does Vinance help with 1099-NEC filings?
Vinance lets you flag vendors as reportable contractors and keeps a running total of the payments that count toward the 1099-NEC threshold, so the amounts and a 1096 summary are ready at year end. Filing with the IRS is done through your usual channel.
Are the financial statements GAAP-compliant?
Vinance produces GAAP-style statements: an income statement, a classified balance sheet, and a cash-flow statement, all from one double-entry ledger. They follow US presentation conventions; your accountant applies any judgment specific to your business. See reports & dashboards.
Move your books off the spreadsheet.
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