posted on May 7, 2013 09:08:40 AM new
It looks like it is in our future. I pay the sales taxes for instate purchases. I do not collect it, I just pay it and absorb the cost. Goodness I could not do it on every sale. I hope this a few years down the road. The Senate passed it,the House gets it now. Another hurdle to deal with.
posted on May 7, 2013 01:43:43 PM new
I collect state sales tax on Ebay,Ebay figures it for me and I collect the $$ and remit to the state at the end of the year,only 2% of my Ebay sales is from Texas.
I would think Ebay will tweak its software to make it possible for all sellers to collect internet tax /
posted on May 7, 2013 01:54:28 PM new
If the bill passes all eBay sellers will have to collect it for 50 states not just the state wthey do business in.
[ edited by deur1 on May 7, 2013 01:55 PM ]
posted on May 7, 2013 03:50:09 PM new
I just read in today's newspaper, taxes will be collected on sales of one million and above. Has anyone else heard about that?
posted on May 7, 2013 03:52:39 PM new
Senate passes bill letting states tax Internet purchases, siding with ...www.washingtonpost.com/...sales-tax.../a0f487ee-b61d-11e2-b568-6917f6...
19 hours ago – Attention online shoppers: The days of tax-free shopping on the Internet may ... “Small retailers are collecting (sales tax) on the first dollar of any sale they ... online retailers collect sales taxes for the one state where they are located. ... Businesses with less than $1 million in online sales would be exempt.
posted on May 7, 2013 04:05:03 PM new
Sounds good to me! I do take care of sales tax due to my state. It would take time for the bill to become law, the government moves slow. I will never sell $1,000,000 in a year so I will quit fretting . YIPEE
posted on May 7, 2013 04:43:14 PM new
Interesting;
"Mashragi sells refurbished electronics through her eBay store, Concept Electronics. Last year she sold roughly $3 million worth of merchandise. But if the Senate passes the Marketplace Fairness Act tonight, she may cut iPads, which have a high cost but low profit margin, from her inventory so she'd fall within the proposed $1 million small-seller exemption."
More tidbits:
"Alaska, Delaware, New Hampshire, Oregon and Montana do not have sales taxes.
Small online sellers are also worried about the potential to be audited by nearly every state. Others wonder why they should be expected to collect sales tax for jurisdictions where they won't benefit from the services the taxes go toward.
"They're not imposing the cost that the tax is offsetting," says Brad Wilson of online-only retailers. Wilson is the founder of BradsDeals.com, a website that helps shoppers find the best online deals. "If I buy shoes on shoes.com, Chicago doesn't even know," he says as an example. "(Online retailers) don't need more cops or streets paved or whatever else goes into supporting (local) retail."
posted on May 7, 2013 05:28:26 PM new
How is Mashragi going to cut her sales from 3 millions to 1 millions just by cutting IPAD?
Does it mean she has been selling $2 million dollars worth of ipad a year?
Collecting sales tax may be benficial to her,it is free cash until she has to remit to the states.
So instead of borrowing from the bank,she is getting free money to tie her over,until she remits them to the state.
I dont sell enough to remit every month or every quarter,I do it at the end of the year,so it is like aninterest free loan.
posted on May 7, 2013 05:31:29 PM new
As for Brad,who said
"They're not imposing the cost that the tax is offsetting," says Brad Wilson of online-only retailers. Wilson is the founder of BradsDeals.com, a website that helps shoppers find the best online deals. "If I buy shoes on shoes.com, Chicago doesn't even know," he says as an example. "(Online retailers) don't need more cops or streets paved or whatever else goes into supporting (local) retail."
////////////////////
Unfortunately the operators and suppliers and customers of online stores do not live in cyberhouse and drive on cyberstreet and have their neighborhood patrolled by cyber cops and send their kids to cyber schools.
States need tax revenue to provide services to us.
posted on May 7, 2013 05:39:50 PM new
Where do they get the $1 million?
I would think anyone who stays at home and do $100,000 or more should be collecting sales tax.
There are many brick and mortar stores which do no more than a few hundred thousand dollars worth of business a year.
posted on May 8, 2013 05:05:23 AM new
If Mashragi is willing to cut her business from 3 to 1 million to avoid collecting state tax,and thats a 66% cut and still survive,then that 2 million dollar sales is a big loser,she has more to worry about than reporting sales tax!
[ edited by lostmymojo on May 8, 2013 07:23 AM ]
[ edited by lostmymojo on May 8, 2013 07:23 AM ]
