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sellers tax???....update...

toad67

Just received payment for the first item that was taxed from the auction side. The seller sent a copy of the invoice with payment which showed the amount of tax charged to his State of Indiana, which was helpful. My question is, where in my account do I see the taxes that gb will charge me, that were collected from certain sellers, and then redirected back to the States? I looked into my monthly statement, and see the final value fee of the auction, but it is less than the sales tax computed on the invoice.

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Comments

6 comments

Date Votes
  • toad67

    Hmmmm, this might be an interesting ride..

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  • Ricci.Wright

    I assume it will be on the invoice which you can print as soon as the auction is finished.

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  • toad67
    Ricci.Wright: 31514338721563/comments/31514356491163

    I assume it will be on the invoice which you can print as soon as the auction is finished.

    It was on the invoice, but not currently on my monthly statement. The plan was for gb to collect the tax from the sellers, who collected it from buyers in the current states that are on the list, and then reimburse the tax back to the states correct?

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  • toad67

    A fine gentleman from GB reached out to me, and answered my question, so I will post what I've learned. As noted, internet sales tax will be charged on GB sold items to 8 states that are currently listed. The buyer will then remit any sales taxes, along with the shipping fee's and item price to the seller. The seller will then be charged the final value fee, along with any collected sales tax. GB will then forward the collected sales taxes to the appropriate states.

    GB does not currently have a ledger tab for collected sales tax, but is expected too next month. So for the time being, sellers need to keep the collected tax money, and once the ledger tab is up and running, sellers will be billed for the taxes, and listed by auctions. Most likely, sellers will be billed for approximately 60 days worth of collected taxes.

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  • bpost

    Sales taxes are the bane of American business existence and a HUGE burden on businesses that must follow the nightmare of State laws on collecting and submitting them. Just increase State taxes on your income and drop this silly "under which cup is the marble" money scooping scam.

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  • Ricci.Wright

    I don't know. I haven't been paid yet.

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