[meteorite-list] Ebay, Websites and State Taxes
From: Jason Utas <meteoritekid_at_meteoritecentral.com>
Date: Mon, 6 May 2013 14:54:35 -0700
What Mendy said is correct.
There is a $1 million minimum in online sales in the current draft
(indisputable fact), and some politicians have suggested raising it to
$10 million. In other words, unless you gross over a million dollars
in online sales, you will not have to collect or pay this tax.
[You can find better sources online, but this ^ summarizes things
Adam's point is somewhat moot, as sales tax is nothing new for most
brick-and-mortar businesses. And we have only one such meteorite
store in existence, to my knowledge (Steve Arnold's shop in Arkansas).
I'm not certain as to how businesses like this would have to deal
with the new internet tax, but since in-state online sales are already
taxed (even from small independent, online-only sellers), I can't see
this as being very important. The $1,000,000 online sales minimum
might apply to tangible businesses as well. I'm not sure; that would
take some looking into.
Unless meteorite dealers make more than $1,000,000 per year in online
sales, they can relax. I'm not a fan of this bill, but it will not
affect my selling much. I might buy some more run-of-the-mill things
at tangible stores if this goes into effect, but there's no real risk
of people doing that with meteorites. If anything, this will probably
encourage me to buy from smaller, independent sellers online. Thanks
to the million dollar minimum, they will still be tax-free.
On Mon, May 6, 2013 at 2:13 PM, Adam Hupe <raremeteorites at yahoo.com> wrote:
> Don't let politicians fool you. They are talking about taxing at the point-of-sale, meaning where the item is shipped from. In this case, possibly somebodies living room or garage! If you own a brick and mortar Meteorite Store, you are already expected to collect these taxes including 100% of sales online. There is no one million dollar annual sales exemption. There aren't too many dealers that own a storefront so at this point in time, they are alright but this could change very shortly.
> Just like the Affordable Healthcare Act is the largest tax increase in U.S. history and it was sneakily forced upon American citizens. Just wait until 2014. A lot of people who simply cannot afford healthcare will be fined on top of the massive tax increases.
> ----- Original Message -----
> From: Mendy Ouzillou <ouzillou at yahoo.com>
> To: Adam Hupe <raremeteorites at yahoo.com>; Met-List <meteorite-list at meteoritecentral.com>
> Sent: Monday, May 6, 2013 1:47 PM
> Subject: Re: [meteorite-list] Ebay, Websites and State Taxes
> Very timely post. I just read the following article (http://reut.rs/ZBTsVY). Regardless whether the bill passes or not, the impact on almost ALL meteorite dealers is nil. Here is the key excerpt from the article, "It would also exempt merchants with online annual out-of-state sales of $1 million or less."
> I am personally on my way to $1M in sales this year and will gladly pay the extra tax when I reach my goal. I have till December 31 to sell another $995,000. Wish me luck. ;-)
> Mendy Ouzillou
>> From: Adam Hupe <raremeteorites at yahoo.com>
>>To: Adam <meteorite-list at meteoritecentral.com>
>>Sent: Monday, May 6, 2013 1:29 PM
>>Subject: Re: [meteorite-list] Ebay, Websites and State Taxes
>>Not only do we need to worry about eBay's new flawed international shipping ideas causing an increase in oversees shipment prices, we have to worry about a domestic increase in sales taxes so we have problems on both fronts.
>>Yes, our wonderful government (the senate) think that it is time that all online sellers should become tax collectors for their respective states. Those who host websites may be the first to start collecting around 10% in states sales taxes from every sale.
>>We need leadership more than ever in these financially depressed times. Big government and the Post Office think that raising prices and taxes substantially is the solution during a depression? Hello, Is there anybody at the helm? Where is the "Commander With A Few Teeth" when you need some form of leadership?
>>Raising taxes and fees during a depression is kicking somebody when they have already been knocked down.
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Received on Mon 06 May 2013 05:54:35 PM PDT