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Internet Sales Tax

PhilGPhilG Posts: 237 ✭✭
in Trading Cards & Memorabilia Forum
The Senate approved a long-anticipated Internet sales tax proposal on Monday, moving the legislation one step closer to enactment and paving the way for shoppers to pay sales tax on the majority of online purchases.

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Comments

  • thedutymonthedutymon Posts: 4,323 ✭
    Evening,

    And it'll never get past the other House...............................................

    Neil
    Actually Collect Non Sport, but am just so full of myself I post all over the place !!!!!!!
  • WalterSobchakWalterSobchak Posts: 2,096
    Nothing to do really but hope it eventually fails.
    'Sir, I realize it's been difficult for you to sleep at night without your EX/MT 1977 Topps Tom Seaver, but I swear to you that you'll get it safe and sound.'
    -CDs Nuts, 1/20/14

    *1956 Topps baseball- 97.4% complete, 7.24 GPA
    *Clemente basic set: 85.0% complete, 7.89 GPA
  • mrmint23mrmint23 Posts: 2,249 ✭✭✭
    Guys it will pass if not this year in the near future. I don't believe the reported tax dollars being loss but right now State and local governments need every penny.
  • mrmint23mrmint23 Posts: 2,249 ✭✭✭
    BUT there will be exceptions and most States exempt casual(isolated) sales.
  • WalterSobchakWalterSobchak Posts: 2,096
    Can't wait to have a $200 card cost $16 extra!
    'Sir, I realize it's been difficult for you to sleep at night without your EX/MT 1977 Topps Tom Seaver, but I swear to you that you'll get it safe and sound.'
    -CDs Nuts, 1/20/14

    *1956 Topps baseball- 97.4% complete, 7.24 GPA
    *Clemente basic set: 85.0% complete, 7.89 GPA
  • jgrigalijgrigali Posts: 364 ✭✭
    It only applies to sellers who have over a million in sales a year
  • CollectorAtWorkCollectorAtWork Posts: 859 ✭✭✭
    Does anyone know if large auction houses (e.g., Legendary, Heritage, REA) will need to start charging sales tax to everyone?
    Babe Ruth Master Set
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    Non-Registry Collection
    Game Used Cards Collection
  • SportsamericaSportsamerica Posts: 990 ✭✭


    << <i>It only applies to sellers who have over a million in sales a year >>



    But the way the law is written, it would include EVERYONE who sells on EBAY.. They look at the platform, not the Seller... Thus if you sell on Ebay, you will be required to collect Sales Tax and remit..

    If I were running ebay, I would start a "Sales Tax" department. I know in my state, I get to keep 1% of the sales tax collected if I pay on time... This could be big $ for eBay if they would take this up. Hell, even if they charge a monthly fee for someone to opt in, many would do it, so they do not need to track, and pay this amount.

    Cory
    ----------------------
    Working on:
    Football
    1973 Topps PSA 8+ (99.81%)
    1976 Topps PSA 9+ (36.36%)
    1977 Topps PSA 9+ (100%)

    Baseball
    1938 Goudey (56.25%)
    1951 Topps Redbacks PSA 8 (100%)
    1952 Bowman PSA 7+ (63.10%)
    1953 Topps PSA 5+ (91.24%)
    1973 Topps PSA 8+ (70.76%)
    1985 Fleer PSA 10 (54.85%)
  • MauriceMaurice Posts: 1,136


    << <i>But the way the law is written, it would include EVERYONE who sells on EBAY.. They look at the platform, not the Seller... Thus if you sell on Ebay, you will be required to collect Sales Tax and remit.. >>


    This is not accurate. It will only apply to ebay sellers with $1 million or more in out-of-state sales annually.

    http://www.cnn.com/2013/05/06/tech/web/internet-sales-tax/index.html
  • gemintgemint Posts: 6,126 ✭✭✭✭✭


    << <i>

    << <i>But the way the law is written, it would include EVERYONE who sells on EBAY.. They look at the platform, not the Seller... Thus if you sell on Ebay, you will be required to collect Sales Tax and remit.. >>


    This is not accurate. It will only apply to ebay sellers with $1 million or more in out-of-state sales annually.

    http://www.cnn.com/2013/05/06/tech/web/internet-sales-tax/index.html >>



    That would make sense. But then again, we're talking about our government here. Can you imagine having to administer tax returns for a million filers with $10 or less in sales tax liability? It probably costs the bureaucracy $20 or more in administrative fees to handle each return.
    https://ebay.com/sch/gemint/m.html?_nkw=&_armrs=1&_ipg=&_from=
  • bcubsbcubs Posts: 344 ✭✭✭


    << <i>

    << <i>It only applies to sellers who have over a million in sales a year >>



    But the way the law is written, it would include EVERYONE who sells on EBAY.. They look at the platform, not the Seller... Thus if you sell on Ebay, you will be required to collect Sales Tax and remit..

    If I were running ebay, I would start a "Sales Tax" department. I know in my state, I get to keep 1% of the sales tax collected if I pay on time... This could be big $ for eBay if they would take this up. Hell, even if they charge a monthly fee for someone to opt in, many would do it, so they do not need to track, and pay this amount. >>



    If this is the case and all sellers on Ebay are required to pay their own sales tax it could reduce some of the online singles sellers and benefit the brick and mortars as well as local card shows.

    Appreciate today-

    Bill

  • MapleleafMapleleaf Posts: 506 ✭
    Collectors hate to pay taxes. I know it would cut my online purchases by a significant amount.
    I can see card shows doing better and direct collector to collector sales via email and other websites.
  • alnavmanalnavman Posts: 4,129 ✭✭✭
    something would have to be done to help small sellers, my understanding is that taxes vary from state to state and it's a nightmare trying to keep up with all the changes that occur....
  • fergie23fergie23 Posts: 2,151 ✭✭✭✭
    The bill is to allow States to decide if they will charge sales tax or not on internet sales. Not sure why the Republican House would shoot down what is basically a States' rights bill but who knows.
    Currently the buyer is responsible for paying any applicable state tax on an online purchase but given the posts so far I am guessing most people do not actually do this.

    Robb
  • emaremar Posts: 697 ✭✭✭✭
    "Use" tax is for out-of-state purchases. I'm sure everyone honestly reports it.

    Disclaimer: Aren't we taxed enough??!!
  • illinifan912illinifan912 Posts: 1,462 ✭
    lets say it does pass, when would it actually take effect?
  • MauriceMaurice Posts: 1,136


    << <i>lets say it does pass, when would it actually take effect? >>


    No earlier than October 1, 2013.

    Read the link I provided above.
  • JMDVMJMDVM Posts: 950 ✭✭✭
    What is particularly galling is a Republican senator from Wyoming, Mike Enzi introduced the legislation and he was joined by 22 other Republicans.
    Also tax law is not supposed to be introduced by the Senate, only the House.
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