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I wonder how this will impact the card market on ebay
HighGradeLegends
Posts: 1,693 ✭✭✭✭
https://www.nbcnews.com/news/amp/ncna873416
In the assessment at the end of the article, it suggests this will be a non issue for small time sellers on ebay. Not sure if that is accurate or not .
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I think this will be a lot of work for businesses that sale in multiple states. Keep in mind, within some of these states, the counties/zip codes/cities/economic zones charge different sales taxes. It's going to be a organization nightmare for small businesses. My estimate is there are over 1,000 different sales tax percentages in the US. And that doesn't includes some areas that charge Use-taxes.
We've been using a website called Avalara. Still a lot of work. Need a full-time accounting admin just to keep track and pay the sales taxes.
Collecting Unopened from '72-'83; mostly BBCE certified boxes/cases/racks.
Prefer to buy in bulk.
My guess is that Ebay and Amazon will collect and remit the sales tax.
The "problem" is going to be with sellers who offer product on their websites, having to collect and remit the sales tax, especially with each state going to have their own set of rules.
Another early guess is that a number of states will band together and have sellers remit the sales tax to one address or online payment account. But I doubt if some of the bigger states such as California and New York will be so accomodating towards small sellers.
We shall see what happens.
One thing for sure, certain politicians, lawyers, accountants, and software firms are going to get filthy rich over this, while again, the small business owner suffers under the cost and time waste of burdonsome paperwork...and for what? So that big government will squander the money anyway, and then later on come back for more money to squander.
And don't forget the consumer having to pay more in taxes. Death by 1,000 cuts. Big government is eating the middle class alive as the appetite of malignantly growing big government is insatiable.
As long as other state laws are modeled after the South Dakota law, it will have zero impact to me. 200 sales or $100k in sales to that state before you need to worry about it.
Of course this will hurt eBay; the $1000 1972 Willie Mays IA PSA 9 just got a hundred dollars more expensive, almost all bidders will figure the tax cost in when placing bids or buying, driving the price/value of the actual card down
Stevek hit the nail on head with his post
How will this affect selling on sites like CU or other non-EBAY type sites? How will sales tax collection be enforced here/there? Many here are just everyday collectors, not a full fledged business model.
Anybody know when this is new tax law is going into effect?
Hiya Paul
There's another thread and I responded there.
First off - deals made on BST e.g. IMO are totally under the radar.
If one has a web and makes a sale and this "does" get very complicated?
I would say that PayPal will handle it for ya - if one opts to handle payments that way?
Well, I knew this was eventually going to happen. I wonder if this will affect mail order businesses as well.
"Thursday's ruling did not require all Internet companies to collect sales taxes. While larger companies certainly are now obligated to do so, the decision suggested that small retailers, who sell on eBay, for example, will not face the requirement."
Is it double taxation if you buy something on ebay and pay sales tax on PSA card X. Only to then resell the same PSA card x on ebay and then collect another sales tax?
Is the first purchase exempt if you are a ebay seller(with over 200 transactions a year) with a sales tax license?
Or is that just a normal transaction and both taxes should be paid?
I know a lot of us probably do this as we shuffle our collections over time.
No taxation without representation my friend.