LeafLink can help wholesale cannabis sellers in New York calculate potency taxes.
Use the Tax Schedule Creator to make your schedule. Then use the Orders report to create an exportable csv.
1. Go to Settings. Then tap on Taxes (in the horizontal menu)
2. Tap the Setup button.
3. Enter your tax information based on your product categories.
If you sell flower by the gram, enter the rate you are taxed on that product category into the fields.
4. Press the Create button to save. You will see the tax schedule appear on the right side of the screen.
5. Do this for each product category.
When you are finished you will need to enter the potency of your products on the Inventory item.
1. Go to Inventory (in the main navigation menu on the left.)
2. Press Edit on the product you want to edit.
3. Scroll down to the Product Specifications section.
The potency will be the total amount of potency per case sold. (eg 10 units per case times 5 mg per unit = 50 total)
4. When that product is added to an order you will be able to see the taxes due for that product in the Orders Report.
5. Go to Reports. Tap on Orders.
6. Select the orders you wish to include by date, status, etc.
7. Press the Detailed Product Export button.
8. When you export the report, it will download as a csv.
The Tax column will have the data you need to file your tax reports.
If you don't have this feature in your account and want it, reach out to your Account Manager or email us at support@leaflink.com.