Poshmark, a social commerce platform has announced Posh Remit, an innovative, hassle-free service that calculates, collects and submits state and local sales tax on all eligible orders from shoppers across the country on behalf of its sellers. Beginning in April, Posh Remit will simplify the process for Poshmark's community of five million Seller Stylists, alleviating the time-intensive burden of collecting and submitting state and local sales tax. Once implemented across the U.S. in every state where sales tax is imposed, Posh Remit will be one of the first country-wide tax collection and remittance services on a social marketplace.
This is the latest addition to the company's suite of seamless social commerce services, including Posh Post, Posh Pay, Posh Protect and Posh Authenticate, serving Poshmark's community of Seller Stylists who have added over 75 million items to the platform. The suite of tools is designed to support sellers' ability to scale their business and provide a comprehensive shopping experience to consumers. To date, Poshmark has paid out over 1 billion dollars to its community of sellers, including several Seller Stylists making six- to seven-figures on the platform.
"Poshmark Seller Stylists are quickly becoming the next generation of retailers, and we're committed to continuing to scale our services to make it easy for anyone to run and grow their own business on the platform," said Manish Chandra, founder and CEO of Poshmark, in a statement. "Poshmark's universal approach to sales tax will allow Seller Stylists to reach shoppers across the U.S., while at the same time supporting their local communities directly."