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Superfund for SuiteTax

Superfund is a federal excise tax on taxable chemicals sold or used by a manufacturer, producer, or importer starting July 1, 2022. You'll need to perform product mapping in ONESOURCE, create the corresponding product code in NetSuite, and set up a Unit of Measure.
  1. Set up an item using an example with ACETYLENE.
  2. Check the Unit of Measure in ONESOURCE.
  3. Look up ACETYLENE in the ONESOURCE Platform and note the
    Unit of Measure
    , which is STN.
    " "
    note
    Use the same unit of measure to avoid conversions.
  4. Set up STN as the
    Unit of Measure
     in NetSuite.
  5. Add the XML tag
    nlapi:TAX/nlapi:TAX_AMOUNT/nlapi:DOCUMENT_AMOUNT
     on the
    XML Response Line Attributes
     tab.
    " "
  6. Create the inventory item for ACETYLENE and set the
    Unit of Measure
     to
    STN
    .
  7. Go to the
    ONESOURCE Content
     tab on the inventory item and assign a product code.
  8. Go to ONESOURCE Platform, then map the NSACSF product code to ACETYLENE.
    " "
  9. Create an invoice to test the Superfund.
  10. Select a customer located in San Diego where Superfund tax is applicable.
  11. Enter the invoice line item.
    1. Use the item you previously created and mapped to ONESOURCE for the invoice.
  12. Save the transaction and check the Superfund tax.
    " "
    note
    To check if the tax is computed correctly, set up a scenario in ONESOURCE. First, enter the same address as the customer. Then, use the ACETYLENE product code as the line item under Document Line Information. Select
    Save
     and view the results.

This article applies to:

  • PRODUCT: ONESOURCE Determination,ONESOURCE Indirect Tax