Here in TN we have a state sales tax of around 10%. We do not have a state income tax. Amazon has lot of fullfillment centers here in TN and I am pretty sure they do not have to pay state sales tax.
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Here in TN we have a state sales tax of around 10%. We do not have a state income tax. Amazon has lot of fullfillment centers here in TN and I am pretty sure they do not have to pay state sales tax.
Even in the past it has always been that if a business had a physical presence in the state that they business collected the sales taxes for all sales to that state. Now with the new law the business will have to collect sales taxes from all customers regardless of state and remit those taxes to the appropriate state government.
Most businesses I buy from on a more regular or frequent basis already tax my state so I will not see a lot of change. Also if there is a product I want the difference in paying sales tax will not be a deciding factor whether I purchase or not. Most things I buy online are either not available locally or if they are not at the same pricing structures as it can be obtained online.
I also am shocked it took them so long to get their hooks into another source of income to add to the wasteful ways they spend taxpayer generated funds.
I thought the ruling was for state sales tax.
The local gubment is SOL.
That being the case, it's only 50 states. Well 49, you live in one.
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IL. already has a tax for on-line sales that you pay when you file your states taxes in April. If the vendor doesn't collect and pay IL. They expect you to. Either a flat tax or percentage of sale(s). The flat tax is easy, but ain't cheap. The percentage tax is cheaper by comparison, however it's a nightmare to track and report.
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Good article:
https://www.forbes.com/sites/kotliko.../#120e64c027aa
Amazon does not charge tax on third party items. Things they do not own just ship. If they own it and are selling it they charge tax on it.
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I am closing my online archery business soon, I knew it was coming. They will screw it us for sure.
Businesses act as collection agencies for state/fed taxes. I believe businesses still get to keep a percentage of the tax they collect. (I could be wrong.) But, it ain't much for doing all the work involved and the risks involved.
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