Configure your taxes before you start setting up the prices on your account. If your Tax Rates change, edit your existing Tax Rates by creating new Rate Schedules. For more information, you can watch the video tutorial.
Don't delete your taxes. If you delete a tax rate, historical sales numbers and taxes collected will be removed from your Green Bits reports. Instead, you'll want to schedule a new rate on your existing tax.
Add a new tax
When you set up your taxes, you have the ability to add all your state and city taxes to your Green Bits account. In this section, you will see how to configure your taxes to be included or excluded from the Display Price for your products, and how to mark your patients as tax exempt based on what they're purchasing.
- In the Back Office, go to Settings > Taxes.
- Click the button Add New Tax Type.
- Name your new Tax.
- Choose whether this tax applies to Marijuana Only. (On your Sales receipts, your taxes are divided into two lines: Cannabis Tax and Other Tax. A tax item marked "Marijuana Only" is itemized under Cannabis Tax.)
- Put a check next to which Product Type(s) this tax item applies. For instance, if this tax is for Marijuana Only, be sure to check all options except for Paraphernalia.
- Choose whether to Exclude Patients from this tax. Put a Check Mark next to the Product Type if your Medical Patients should not be charged tax. For instance, if a patient should not be charged an Excise Tax for any marijuana items, put a check mark next to all marijuana options under the column "Exclude Patients".
- Scroll down to the Rate Schedule.
- Add a Rate %. For instance, if the sales tax is 7.5%, this should be listed as 7.5, not 0.075.
- Select Yes if you'd like your tax to be Inclusive (The tax is included in the sell price. This will appear on the Display Price of your Register Menus).
- Set the Start Date the tax will go into effect.
- Leave the End Date listed as Never to prevent the rate from expiring. You will add this date only if the tax rate changes. See Editing your existing Tax Rate.
Inclusive versus Exclusive Taxes
Changing an existing tax from Inclusive to Exclusive will also change the Sell Price on all associated products. If you need to make this change to your tax settings but want to keep your Sell Prices the same, please contact Green Bits Support for assistance.
Choose whether you want your taxes included in all of your Display Prices.
You have two options for your taxes:
- Inclusive (The tax is included in the rate)
- Each sell price is set to include the tax by default for the display price on your register and your menus.
- Exclusive (The tax is not included in the rate)
- Each sell price is set to exclude the tax by default for the display price on your register and your menus.
Read more about How Inclusive Tax works with Tiered Pricing.
Edit your existing Tax Rate
Tax Rates can change frequently. Don't lose your historic tax data - just add a new rate schedule to your current taxes, set a date you need the new rate to begin, and Green Bits will start collecting the updated taxes automatically.
- In the Back Office, click on the Settings > Taxes
- Click on the Tax you want to update.
- Scroll down on the right-hand side and select Add Schedule.
- Add new rate for the new tax in the Rate Schedule section
- Click "Yes" if you'd like your tax to be Inclusive (The tax is included in the sell price. This will appear on the Display Price of your Register & Menus).
- Set the Start Date the tax will go into effect. The End Date of the new rate should be "Never".
- Before saving, scroll down and set the End Date of the old rate to the day before the start date of the new tax.