Did You Wait Too Long?
Jun 22, 2018 07:59:27 #
Haymaker wrote:
Yep. As soon as Amazon built a distribution center in my state, sales tax was added.
Same in Florida. The have million square-foot facility in Lakeland but they have three or four other for other locations. My wife orders shows from DSW online and pays sales tax. DAW also has stores in Florida.
Jun 22, 2018 08:01:14 #
Jun 22, 2018 08:02:17 #
leftj
Loc: Texas
mrjcall wrote:
Just ruled in the Supreme Court! Sales tax must be collected for all internet purchases.....that includes our favorite on-line camera stores! 😰. On the other hand, local/state budgets that rely on state sales taxes will not have to raise your tax bills as high (that's a joke, of course they will anyway!)
There will be a rush of internet purchases before this gets implemented for sure.
Jun 22, 2018 08:13:08 #
Mike Fos
Loc: Powhatan Virginia
I buy locally whenever possible. That way I can support my community even if it costs a little more. It is nice to see the merchandise before I buy it.
Jun 22, 2018 08:13:28 #
Yes, We pay the highest property taxes in the nation which many of us worry about as we retire ... many folks have to sell homes and their cottages because they can’t afford to live here once their income drops for even a well planned for retirement! So, I’m planning to update all my photography equipment in the next two years ... otherwise I’ll just be Birding carrying my binoculars!
“I'll pay all of your sales taxes on camera purchases this year if you'll come pay our property taxes, which are the highest in the nation. And as I work in Massachusetts I get the worst of both worlds - MA income plus NH property taxes. At least this is one thing I don't have to worry about.
Andy[/quote]”
“I'll pay all of your sales taxes on camera purchases this year if you'll come pay our property taxes, which are the highest in the nation. And as I work in Massachusetts I get the worst of both worlds - MA income plus NH property taxes. At least this is one thing I don't have to worry about.
Andy[/quote]”
Jun 22, 2018 08:26:45 #
For NJ the estimate is now "$216 million to $351 million in new tax revenue" from this decision.
https://www.nj.com/politics/index.ssf/2018/06/can_a_us_supreme_court_ruling_avert_a_looming_stat.html
https://www.nj.com/politics/index.ssf/2018/06/can_a_us_supreme_court_ruling_avert_a_looming_stat.html
Jun 22, 2018 08:29:18 #
mizzee wrote:
Does anyone know if the decision affects past purchases?
It would be impossible to collect. For some who actually do what is legally required now (report the purchases and pay the sales tax to the state of residence at tax time) it would amount to double taxation. It is not doable. Don't worry.
Jun 22, 2018 08:31:48 #
Okay where I live in NYS the state sales tax is 4%. The local sales tax is 4%. On an internet purchase will I be charged just the state portion or will I get hit with both state and local tax? It seems to me it would be a sellers nightmare to keep track of all the various local tax rates countrywide.
Jun 22, 2018 08:33:54 #
JohnSwanda wrote:
I'm sure someone will come up with a computerized database service of state and local taxes for merchants, which will be cheaper than having each company's accountant do it by hand.
Such systems have been in place for decades of interstate (catalog mail order and Internet) retailing. Most of them can calculate total tax based on postal code and several other factors.
Jun 22, 2018 08:45:04 #
SharpShooter wrote:
Why will local businesses have to do anything any different than they do now??
If their prices were competitive before and they were competing with the internet, those same businesses will be able to raise their prices by as much as 10% and still have the same cost ratio they had previously and make a better profit.
Maybe some of the brick and mortar camera stores will spring back up after being killed off by B&H!!!
SS
If their prices were competitive before and they were competing with the internet, those same businesses will be able to raise their prices by as much as 10% and still have the same cost ratio they had previously and make a better profit.
Maybe some of the brick and mortar camera stores will spring back up after being killed off by B&H!!!
SS
B&H "IS" a brick and mortar store in NYC.
Jun 22, 2018 08:53:13 #
TomC. wrote:
B&H "IS" a brick and mortar store in NYC.
Anybody know the percentage of total sales, internet vs bricks/mortar?
Jun 22, 2018 08:53:18 #
BebuLamar wrote:
I don't think it's a bad thing. By law most states... (show quote)
To a point, I agree. It is just that the local camera stores simply do not have the [b]selection]/b] or stock on hand. Thus, I will still purchase on-line.
Jun 22, 2018 08:53:41 #
JimBart
Loc: Western Michigan
As a former state sales tax auditor this is something that many of you may overlook when filing your taxes. The majority of states will ask if you have made purchases online or out of state on which no taxes were paid If so they will ask you to declare the value and multiply it by the applicable tax rate. This tax, although not called a sales tax, is use tax on the item because it was declared by you.
In addition, if you have been following this topic over the years you will know that many states issued subpoenas to internet sellers for their states sales by purchaser. If the total amounts were large enough either an audit of the state tax return was made or a letter issued requesting the tax be paid. No penalties were issued at that time.
All this ruling did, was to confirm what the states have been doing all along.
Hope this helps all of you
In addition, if you have been following this topic over the years you will know that many states issued subpoenas to internet sellers for their states sales by purchaser. If the total amounts were large enough either an audit of the state tax return was made or a letter issued requesting the tax be paid. No penalties were issued at that time.
All this ruling did, was to confirm what the states have been doing all along.
Hope this helps all of you
Jun 22, 2018 08:54:45 #
The amount I pay in just property taxes is what I would charge to rent the house out to a tenant, so, even though I own it outright, it is like I am renting my house from Uncle Sam!
Jun 22, 2018 08:57:32 #
ELNikkor wrote:
The amount I pay in just property taxes is what I would charge to rent the house out to a tenant, so, even though I own it outright, it is like I am renting my house from Uncle Sam!
The US government (Uncle Sam) does not collect property taxes. That is a local/state thing.
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