Calculating Discounts, Surcharges and Taxes
Here is the breakdown of how Rerun calculates discounts, surcharges, and taxes on a payment stream or one-time payment:
Base Amount: ($) | $100.00 | Total Item Value or Base Amount entered. |
Discount: ($ or %) | $5.00 | Subtracted from Base Amount. |
Credit Card Surcharge: (%) | 2.50% | Applied to discounted price but before tax is applied. (i.e. $100 - $5 = $95 * 2.5% = $2.38) |
Tax 1: (%) | 5.00% | Applied to the discounted price or base amount, if no discount is given, plus the credit card surcharge. (i.e. $100 - $5 = $95 * 2.5% = $97.38 * 5% = $4.87 |
Tax 2:(%) | 0.00% | |
Grand Total:($) | $102.25 | Total base amount or item total minus (-) discount plus (+) credit card surcharge plus (+) taxes. |
Rerun allows you to add credit card surcharges now to your Rerun payments, however, there are some rules and regulations that you must follow within the U.S. If you add a surcharge to a payment, you are responsible as the merchant to adhere to any laws/regulations surrounding surcharges.
What is a Surcharge?
A credit card surcharge is a fee that a retailer adds to the cost of a purchase when a customer uses a credit card. Surcharging isn’t allowed everywhere. Currently, there are laws limiting surcharging in: California, Colorado, Connecticut, Florida, Kansas, Maine, Massachusetts, Oklahoma, Texas and Utah.
Read more at: https://usa.visa.com/dam/VCOM/download/merchants/surcharging-faq-by-merchants.pdf
and
http://www.creditcards.com/credit-card-news/credit-card-surcharges-allowed-1281.php