@amwldcoin said:
Have you guys figured out the differences when you have to pay that 7.65% on tax from a high tax state like California?
7.65% of 10% is 0.765% of the purchase price. Which actually still makes it cheaper than the old system.
I would also point out that it is a bit of a false comparison. There's no way that eBay and PayPal were going to continue to swallow the fees associated with the tax forever. At the very least, you were going to pay the 2.9% of the 10% for the payment processing.
@hiijacker said:
I noticed that i was charged the 7.65% rate on my first coin sale transaction. THis was charged on the sale price, shipping and Sales Tax. They buyer was in California, and I am in Illinois.
Was this correct to charge the buyer sales tax on a Morgan Dollar listed properly in the coin category?
I prefer my buyers not to pay sales tax, if coins are taxe exempt. Especially when i will have to pay 7.65% on top of that!
7.65% of 10% is 0.765%.
It is really your buyers problem, if there is one. As @MasonG mentioned, I believe California taxes coin sales under a threshold. Sales tax is based on your buyer's location.
Sellers have already been paying 2.9% to PayPal for fees on the tax portion of a payment, so it's 4.75% more. Since the statewide rate in CA is 7.25% (says google), the increased amount for fees would be 4.75% of 7.25% of the sales price. For a $1000 sale...
@MasonG said:
Sellers have already been paying 2.9% to PayPal for fees on the tax portion of a payment, so it's 4.75% more. Since the statewide rate in CA is 7.25% (says google), the increased amount for fees would be 4.75% of 7.25% of the sales price. For a $1000 sale...
@amwldcoin said:
You guys and the way you look at these slow fee increases that keep piling up should have some pretty tender frog legs!
First post in this thread:
"Had my first managed payment purchases today. They actually credit the top-rated plus discount immediately. The total fees are 7.65% + 30 cents. This compares with 8.44%+30 cents with PayPal. 0.8% cheaper!!!"
@rec78 said:
Ebay forced me to go on "managed payments" on Jan.22. They said I could start selling coins on the Jan.25, then they changed that date to Feb. 23, now it is Mar. 9. Then to top it off, I got notice the other day that my seller rating was going to drop if I did not start selling soon. Coins are all I have to sell at this time. They forced me into something that I did not ask for, restrict my selling abilities, and then lower my rating because of it. Ebay is retarded.
That's odd. I registered for managed payments last summer. They left me alone until Feb 23rd when I could start selling coins and, voila! Flawless transition.
The date is because you must have a personal account.
Do you sell things other than coins?
Sometimes, I sold all my 45 rpm records last fall. I got a pile of coin auctions set up ready to go. Guess I could sell some books, but nothing exciting there. I want to sell rolls to free up some space.
Comments
7.65% of 10% is 0.765% of the purchase price. Which actually still makes it cheaper than the old system.
I would also point out that it is a bit of a false comparison. There's no way that eBay and PayPal were going to continue to swallow the fees associated with the tax forever. At the very least, you were going to pay the 2.9% of the 10% for the payment processing.
7.65% of 10% is 0.765%.
It is really your buyers problem, if there is one. As @MasonG mentioned, I believe California taxes coin sales under a threshold. Sales tax is based on your buyer's location.
Sellers have already been paying 2.9% to PayPal for fees on the tax portion of a payment, so it's 4.75% more. Since the statewide rate in CA is 7.25% (says google), the increased amount for fees would be 4.75% of 7.25% of the sales price. For a $1000 sale...
$1000 x 0.075 = $75 x 0.045 = $3.375
I think.
That does it. I'm boycotting!!!
Boycott twice. You'll save enough to buy a hamburger at Jack in the Box.
I'm so furious, I'm eschewing the $8 I save in eBay fees to protest the $3.375 that the State of California is costing me!!!
Actually, maybe I should just boycott California! @ErrorsOnCoins ! I'm boycotting you!
You guys and the way you look at these slow fee increases that keep piling up should have some pretty tender frog legs!
First post in this thread:
"Had my first managed payment purchases today. They actually credit the top-rated plus discount immediately. The total fees are 7.65% + 30 cents. This compares with 8.44%+30 cents with PayPal. 0.8% cheaper!!!"
"Piling up"?
Sometimes, I sold all my 45 rpm records last fall. I got a pile of coin auctions set up ready to go. Guess I could sell some books, but nothing exciting there. I want to sell rolls to free up some space.