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Off Topic Off Topic - General non-Corvette related discussion. |
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01-21-2019, 6:56pm | #1 | ||||||
Dorkapottamus
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State sales tax on out-of-State purchases...
For those who missed it, it is now legal for your State to collect sales/use tax on your out-of-State purchases (per the U.S, Supreme Court last year). No longer does that seller need a "physical presence" (a store) in your State to be required to collect the sales/use tax.
Before you just voluntarily pay this tax, though, look up your State's exemption for this kind of tax. My State, Mississippi, gives an exemption to sellers who sell less than $250,000 in goods to residents of my State in any given year. Your State's exemption may be lower. If you, say, buy a reproduction press-molded 1967 Corvette hood from a dealer in Oregon, for $1500, then the price just went up by $105 (if your sales tax in 7%). But if that seller sells less than your exemption per year in your State, there is no tax. So far I haven't found any Corvette parts dealer that sells more than the exemption in my State. Beware of dealers who still charge the tax anyway. Why do they do this? Because my State's Dept. of Revenue cuts deals with the sellers to get them to collect the tax. These deals are secret, but it's probably 2% of the tax that the seller can keep. How else can the State get the seller to pay it? If the seller still insists on adding the tax and they sell less than the exemption, I walk away. If you live in a poor or sparsely populated State, then you're in luck (for once). Sales to these States are likely below the exemption. Your PSA for the day. You're welcome. |
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01-21-2019, 7:48pm | #2 | ||||||
Sparkles Flambeaux
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if you don't buy anything, you don't owe any sales tax.
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01-21-2019, 8:12pm | #3 | ||||||
Dorkapottamus
Barn Stall Owner #52
Join Date: Jan 2011
Location: Here
Posts: 32,365
Thanks: 2,167
Thanked 20,246 Times in 6,727 Posts
Gameroom Barn Bucks: $9339471
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