We have two campuses in New Mexico which has a Gross Receipts Tax instead of a sales tax. The GRT is set by local jurisdiction, so we need to be able to attach the rate to a city. Tuition and fees are taxable items. The financial part of Populi is unusable for us without being able to automatically calculate and download reports on taxes on tuition and fees.
Thank you!
Gross receipts tax (GRT) in New Mexico is charged on both goods and services. There are very few items on which GRT is not charged. The GRT tax is applicable to all tuition and fees and there is a different tax rate for each city/county within New Mexico. GRT is only payable upon receipt of money for an item - it is not payable at the time an item is charged. In other words, if tuition and fees are charged to a student's college A/R account in September but the student does not pay for these charges until November, then the GRT is not payable until November so the reporting would need to be based on money collected. The financial part of Populi is unusable for us without being able to automatically calculate and download reports for funds received and the portion of those funds that paid for GRT. And if we were to use our current financial software to bill students for tuition and fees but use the bookstore for student purchases of books and supplies, then students will need to have 2 separate accounts with the college - one through our current financial software and one through Populi. This would be very cumbersome. Additionally, if we need to continue to use our current financial software but receive financial aid payments through Populi's financial software, we would be saddled with making duplicate entries for the financial aid received - once through Populi and once through our current financial software.
Thanks for your consideration to add the reporting of gross receipts tax to Populi.
