Is Ebay going to Pull Sales Taxes on Everyone's Sales?

Discussion in 'Coin Chat' started by fretboard, Sep 7, 2019.

  1. fretboard

    fretboard Defender of Old Coinage!

    It's been a few months since I've sold on ebay as I got tired of having to sell so cheaply! In short, I didn't want to wait for a sale so I let a few items sell on the cheap! After doing that a few times, I said heck with that noise!! :D That's not the road I want to be on! tmoney.gif Anyways, to make a long story short, today I saw a blurb on one of my sellers items and I didn't like what I was reading!! :banghead: Please see below, can someone tell me what the deal is? When does it start, is it different dates for different States? Is it on all sales and does it apply to all sellers?

    eBay sales tax collection
    Based on applicable tax laws, eBay will calculate, collect, and remit
    sales tax on behalf of sellers for items shipped to customers in the
    following states: Then he lists the states and specific dates!!
     
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  3. CoinCorgi

    CoinCorgi Derp, derp, derp!

    Is california on the list?
     
  4. eric6794

    eric6794 Well-Known Member

    Online sales tax started July 31st in Kentucky. Apparently it applies to all sales buying or selling. Forgive me for saying this but it pisses me off AND IT INCLUDES BULLION. Good old multi tax.
     
    LA_Geezer likes this.
  5. John Burgess

    John Burgess Active Member

    Well to be fair Kentucky is a really poor state and needs all the money it can get so they gotta do something. Money don't grow on trees in Kentucky.
     
  6. eric6794

    eric6794 Well-Known Member

    Depends on the tree
     
  7. Paddy54

    Paddy54 Variety Collector

    Haven't they been sending out a 1099 for a few years Now?
    The era of tax free shopping the net are gone! Old e bay is gone! You may as well face it.....!
    I left dealing on e bay a long time ago....way to much a one way street.
    We want a listing fee, we want a finial value fee, we want all your personal information ,social security number, you bank account linked to your account.
    [ so we can make damn sure "we" ebay are not going to take a loss] "you are "as we will just help,ourselves to your account balance. To off set any loss ebay could or may occur.
    Now if you don't want to play by these rules .....then no worries but....we reserve the right to hold the proceeds on a finished sale for up to 6 months even with positive feed back left at time of purchase. Correct they reserve the right to hold funds for up to six months before they allow you your cash.
    To me e bay became a cult like entity, who expected you to take all the risk !
    We want you to ship free, we want you to ship world wide, we want you to only use pay Pal to take a payment.:wideyed:
    One must realize to make a profit on e bay one must set their margins at 100% if not lots of red ink.
     
  8. ldhair

    ldhair Clean Supporter

    If ebay did not do this, the seller would have to. As a seller you would have to collect the correct % of sales tax and send it to the state the product is shipped. I would hate to keep track of it. It would be a mess.
     
    buckeye73, Derek2200, imrich and 3 others like this.
  9. ToughCOINS

    ToughCOINS Dealer Member Moderator

    Money don't grow on trees in any state.

    Some folks don't work,
    Some folks don't report their income,
    Some companies don't withhold taxes,
    Some states don't collect taxes,
    Many states waste what they do collect,
    Some beneficiaries collect more than their fair share,
    And the rest goes to outright fraud.
     
    buckeye73, Santinidollar and Two Dogs like this.
  10. ldhair

    ldhair Clean Supporter

    @ToughCOINS How are dealers dealing with all of the sales tax laws? I was told that some are actually having to hire a firm to keep everything straight.
     
    Paul M. likes this.
  11. ToughCOINS

    ToughCOINS Dealer Member Moderator

    I haven't seen any consistency of response among dealers in the marketplace as yet. I've completed reseller paperwork for some at their request, and not been asked for same by most others. Except for the largest of dealers who know they already exceed nexus requirements, I think many are still watching for the dust to settle on this issue of inconsistency between different states' requirements.

    I've found my best answers at the Sales Tax Institute, https://www.salestaxinstitute.com/sales_tax_faqs/wayfair-economic-nexus

    I am fortunate to run my business out of NH (no sales tax), to still be a small seller, and to not yet have created nexus in any individual state. Not yet having established nexus, I have time to craft my approach more carefully than those who needed an immediate solution, and may have hastily chosen a less than optimal approach.

    I am also fortunate that my top 8 non-NH retail customers are from different states, which disperses my sales pretty well, reducing the likelihood that I will establish nexus anytime soon.

    This ball is still going around the wheel, and no one - even those who claim to - really knows where it will eventually land. The Wayfair decision was a bad one, based on protectionism, and the states have seized upon it as another source of "badly needed" revenue when, in truth, they need to get better at returning value to the taxpayer for revenues already received.

    The Wayfair decision will likely see some legislative refinement, if it is not eventually overturned by a follow-on case again reaching the Supreme Court.
     
    Last edited: Sep 7, 2019
  12. Inspector43

    Inspector43 70 Year Collector

    I sold several hundred coins on eBay before they became strictly commercial. It was originally a place where hobbyists could go to buy and sell, almost like a trading platform for all hobbies. Then it became a platform for big dealers. Then the US Mint got in bed with the big dealers and made it difficult and expensive to get new coins directly from the mint. I can't sell a collectable quarter for $2 and pay shipping. So, I don't sell anymore.
     
    Derek2200, HaleiwaHI and Paddy54 like this.
  13. ldhair

    ldhair Clean Supporter

  14. LA_Geezer

    LA_Geezer Well-Known Member

    How 'bout Louisiana and Texas?
     
  15. LA_Geezer

    LA_Geezer Well-Known Member

    It does around Louisville, so when I got off the bus and saw that $100 bill in the gutter, I just knew I was gonna love Loo-A-Vul!
     
  16. philologus_1

    philologus_1 Well-Known Member

    I simply googled the text that eBay said about sales tax per the O.P., and quickly found a link on eBay's site about it. Click the link below, scroll down a little until you find a chart titled "ebay sales tax collection" showing an alpha list of some individual states, then look to see if your state is there. Mine is on the list. :-(

    https://www.ebay.com/help/selling/fees-credits-invoices/taxes-import-charges?id=4121
     
    JeffC and LA_Geezer like this.
  17. ewomack

    ewomack Senior Member Supporter

    With very few exceptions, I too had to lower prices to get things to sell on Ebay during this past year. Then they take 10% of the sale off the top and then they charge for listings. Given all of the accumulated fees, I probably sold a few things at an outright loss. In prior years I definitely made money off of Ebay and thankfully I sold most of my "old valueless valuable stuff" (Star Wars toys, trading cards, etc.) back then. But I can't see repeating that now, so I also stopped selling there. What's the point?
     
    Inspector43 likes this.
  18. Two Dogs

    Two Dogs Active Member

    Interesting discussion...and I learned a new word today, "nexus."
     
    GenX Enthusiast and Paul M. like this.
  19. Jim Dale

    Jim Dale Active Member

    I am an CPA and worked in several North Carolina divisions, i.e., State Auditor, State Controller, East Carolina University, and others. There are over 1,000, if not more, CPA's working in the various divisions, universities, and other State of North Carolina agencies. I worked for the State for over 30 years and I retired before the state started to audit any person or business doing business in North Carolina. A fellow CPA works for the Department of Revenue and he told me that there is a separate division within the Department of Revenue, and they are responsible for auditing those companies doing business in North Carolina and at one time, there were 2 or 3 Revenue Auditors that are full-time at ebay. There is a threshold of people/businesses that too little is involved in Sales Tax, but now they say it will be looking at everyone. Some people/businesses operate under several names to avoid getting hit with a large state tax bill. Our state income tax forms even ask if we have done businesses with companies that don't collect taxes. It's a lot more complicated than that, but computers are going to hit you, one way or the other. From George Orwell's book 1984, "Big Brother Is Watching You."
     
  20. HaleiwaHI

    HaleiwaHI Active Member

    I stopped selling on Ebay for this very reason. In order to be competitive and to get a fair return on your investment (ROI) you need to factor in Ebay's cut, shipping & packaging costs, your time to move it and don't forget to factor in those fraud scammers that claim you under sent your order (and I'm sure more than a few of us have experienced selling to them). Now on top of all this a tax? It takes all the fun out of selling a silver dollar.
     
  21. Bambam8778

    Bambam8778 Well-Known Member

    I'm glad that ebay is dealing with this. I, as a small time seller, do not want to have to figure out all the ins and outs of the tax law. I used to be upset about all their fees however I will gladly pay them if they keep on the up and up with all the tax laws.
     
    Phoenixchag likes this.
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