Charging Taxes on Consignment tack
   

       The Horse Forum > Horse Tack > Horse Tack and Equipment

Charging Taxes on Consignment tack

This is a discussion on Charging Taxes on Consignment tack within the Horse Tack and Equipment forums, part of the Horse Tack category
  • For consignment are you charging taxes
  • Do I charge taxes on consigned items

 
LinkBack Thread Tools
    01-09-2012, 11:33 AM
  #1
Foal
Charging Taxes on Consignment tack

Hi,
I have read many mixed things about charging sales tax on consignment items. I was just wondering if anyone on here sells consignment items and if so do you charge sales taxes.
Thanks
     
Sponsored Links
Advertisement
 
    01-09-2012, 11:55 AM
  #2
Green Broke
Sales Tax isn't determined by public opinion.

You need to consult with the taxing authority in the specific area in which your business would be located to find out what your obligations towards charging it are. If you are legally responsible to collect sales tax and you do not, the taxing authority will force YOU to pay the taxes along with a whole slew of penalties and interest.

Attempting to dodge the tax authorities isn't a good idea either. In the US they can go back many years and oh do the taxes, penalties and interest add up fast! I've worked in Sales/Use tax and gone through many, many audits and every single audit has ended up somewhat pricey and these are large corporations who were doing their absolute best to collect and remit sales taxes properly.
     
    01-09-2012, 12:01 PM
  #3
Showing
If you're licensed to do business in a particular state, you're required to charge sales/use tax.

If you're non-licensed and just selling as an individual, or a business that isn't licensed in a particular state, you don't need to collect it. The person buying the item is required to claim use tax on the merchandise on their tax returns.
     

Thread Tools

Similar Threads
Thread Thread Starter Forum Replies Last Post
To those who live in NH, or know something about taxes. Hidalgo13 General Off Topic Discussion 4 05-21-2011 10:50 PM
Charging and kicking out?? Help : ( azhorseluvr1222 Horse Training 6 12-28-2010 11:08 PM
Big Consignment Tack shop taking it online! corinowalk Tack and Equipment Classifieds 31 08-17-2010 07:23 PM
Keep Raising Taxes!! MN Tigerstripes Cars and Trucks 11 04-06-2009 12:54 PM
Cache Dawn Taxes My2Geldings Horse Pictures 25 02-13-2009 07:05 PM



All times are GMT -4. The time now is 02:10 PM.


Powered by vBulletin® Version 3.8.5
Copyright ©2000 - 2014, Jelsoft Enterprises Ltd.
Search Engine Friendly URLs by vBSEO 3.6.0