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Old 11-13-2000, 11:53 AM   #1
Doc
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Join Date: Jul 2000
Location: The Lonestar State
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Question I need some help with Sales Tax

Just how does sales tax work in the U.S??

I'll summarize the little bit I know (or think I do, feel free to correct me) http://geekvillage.com/ubb/smile.gif

1) When selling over the net, you only charge tax to same state sales right?

2) I know that many people who sell via auctions don't pay sales tax, but some do...

what decides whether you charge your customers tax...and then who do you send the tax to? (which gov branch or office)

anything else I need to know?
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Old 11-13-2000, 01:18 PM   #2
noTek
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You don't actually charge tax when selling over the internet, you just plan on paying a good percentage of what you made throughout the year selling stuff or advertising to the government when it comes time to file taxes. Anyone know approximately how much they take?
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Old 11-14-2000, 04:45 AM   #3
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I charge sales tax to those who live in Texas like me. I had to have a sales tax permit in the state of Texas since I live here in order to sell. I have a store on my website....and charge those from this state the sales tax I'm supposed to. At the end of the quarter, I send a report to the Sales Tax office along with my check for the sales tax I owe.

And yes, besides sales tax, I will owe money on my profits throughout the year based on my income and outgo....and I've been working on keeping my bookkeeping in order along with all my receipts and invoices.

You'll need to check with the Sales Tax Office in your state for their laws on selling.....

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Old 11-14-2000, 07:31 AM   #4
Doc
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Thanks notek and Kathy!

Kathy,
I'm also in Texas http://geekvillage.com/ubb/smile.gif

I read up a little on it via the Texas government website and thought it worked the way you explained it. Problem was, its written in legalese and I didn't want to chance a misunderstanding.

Do you know if there is a fee attached to the sales tax permit?
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Old 11-14-2000, 07:34 AM   #5
Doc
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oh...one more thing...

can an individual get the permit, or does it need to be in the name of a registered company?

thanks again!
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Old 11-14-2000, 02:58 PM   #6
Kathy
 
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There wasn't a fee when I signed up. You can sign up as a "sole proprietor" or individually owned business.

The way I understand it works for income tax and sales tax too...if you are the sole owner:

No matter how you earn money: job, sales, over the internet, etc...this is your income and subject to income tax. (Like if you have a job at McDonald's and run an internet business, they are both *you* and will be put together on your W2 eventually. Your own internet business will go through the paperwork of Schedule C for income tax but since you are the sole owner, the income will then be added to your other income.

For the sales tax...call the sals tax office. Check in the phone book and call the number in the book, or submit online. You are the sole owner? Put that down. Doing business on the internet? Put that down in the appropriate place for "kind of business". They understand this kind of business....

Then they will send you a sales tax permit along with your sales tax ID number (usually your SS# with a number or two added on the beginning and end). They will also send you an explanation on how much to charge for sales tax. There is local tax and state tax.... you charge Tx sales based on where you live in Texas. I charge 7.75% but other places in Texas may charge 8.5% and so on. I'm on responsible to charge what I'm told to based on my local tax rate....

Hope this helps, Doc ;-)
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Old 11-15-2000, 01:37 PM   #7
Doc
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BIG TIME THANKS!

The only way you could have helped me more is if you filled the app out for me and sent it in! http://geekvillage.com/ubb/smile.gif

Thanks, I really appreciate it.
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