LumaTax

Founded in 2016 by Robert Schulte, LumaTax provides a specialized software platform designed to simplify sales and use tax compliance for businesses. Schulte, with a background as a Certified Public Accountant (CPA) and experience at firms like KPMG and Grant Thornton, recognized the growing complexities businesses faced with varying state tax laws. This first-hand experience in public accounting, particularly seeing clients struggle after the Amazon v. South Dakota Supreme Court ruling which impacted online sales tax, directly informed the development of LumaTax's solutions.

The company targets indirect tax professionals within enterprise-level businesses and prominent CPA firms, operating in the highly regulated and complex market of state and local taxation in the United States. LumaTax generates revenue through a software-as-a-service (SaaS) model, offering subscriptions to its platform. Additionally, it provides a full-service option where the company manages the entire sales and use tax filing process for clients, ensuring accuracy and timeliness.

LumaTax's core product is a platform that automates the sales tax compliance lifecycle. Its features include the ability to collect and unify transaction data from various source systems, which is crucial for companies using multiple sales channels. The software helps determine a company's nexus—the connection between a business and a state that requires tax collection—for both physical and economic presence. It also assists with voter registration for sales tax collection, managing and disclosing exposure, and preparing both current and historical tax returns. A key benefit is the platform's capability to support businesses during audits by providing organized and accessible data. In 2021, LumaTax was acquired by the European VAT compliance company, Taxually, to create a more comprehensive global tax compliance offering.

Keywords: sales tax automation, use tax compliance, tax software, CPA solutions, nexus analysis, tax compliance, indirect tax, RegTech, SaaS, tax audit support