Stripe, an online and app-based payment services provider, debuted its “Stripe Tax” solution, which automates the calculation and collection of multiple types of taxes for transactions made through the platform.

The launch comes on the heels of Stripe acquiring TaxJar, a sales tax software provider, in April 2021. TaxJar lets users track, calculate, report, and file sales taxes, making it easier for them to navigate domestic sales tax jurisdictions (there are more than 11,000 in the US alone) as well as sell internationally. 

Businesses can integrate the new tax solution by adding a single line of code to their website. Early adopters of this feature include News UK and the Dutch startup Routetitan.   

Stripe, the highest valued venture-backed private company in the US as of May 2021, provides the infrastructure for businesses to build online and app-based payment services using application programming interfaces (APIs). It enables businesses to build payment systems that integrate disparate systems and payment functionalities without expending much in terms of development resources. As of February 2021, Stripe handled over 250 million API requests per day in more than 135 currencies across more than 35 countries. The company also reported that around 90% of US adults had purchased products from businesses using Stripe.