SEATTLE & SAN DIEGO--(BUSINESS WIRE)--LumaTax today announced $2 million in financing from Madrona Venture Group, Greycroft Partners and strategic angel investors to build out a comprehensive sales tax solution for small businesses. Launching first for California’s nearly four million small businesses, LumaTax offers a free exemption certificate mobile application combined with an affordable online solution that makes filing and paying sales tax as simple as a few button clicks. The LumaTax products will be available for both small businesses and accountants.
“We want to give people their Sundays back,” said founder and CEO Robert Schulte. “Filing your sales tax shouldn’t be stressful, complicated or time-consuming. We can hook into systems you already have and make compliance simple and accurate every time. Paying your sales tax should be just like automated bill pay or payroll.”
Schulte was the founder of Taxcient, a sales tax solution provider for larger businesses that was acquired in 2010. Before founding Taxcient, Schulte served as a senior sales tax auditor for the state of California where he was an early pioneer in developing computer audit techniques and was responsible for auditing some of the world’s largest enterprises.
Available today from LumaTax via the Apple AppStore and Google Play is a free mobile application that enables businesses to issue verified tax exemption certificates straight from their phones. “LumaTax is taking something that used to be manual and paper-based and putting it right on your mobile phone,” said Bill Richter, a Venture Partner at Madrona Venture Group and former accountant and CFO. “If you are a business with lots of exempt sales or buying something that is exempt from sales tax, you would be crazy not to try out this app. It will simplify your life.”
Later this quarter, LumaTax will offer California-based small businesses a cloud service to complete and file their sales tax returns. The California business tax return is a nine-page document with 15 pages of instructions and the LumaTax process streamlines this into a short online experience.
LumaTax is the first spin-out of Pioneer Square Labs in Seattle, Washington. To learn more about LumaTax please visit www.lumatax.com.