Dale Alan
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Gunbroker Sales
- Thread starter ThomasT
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Wildbillz
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If I am reading it right from the link above, the final valuation of your sales do not include the sales tax. The will come as a separate billing.
" Is Sales Tax on my monthly fee statements?
Sales tax will not appear on your monthly fee statements for items you sell. The sales tax will be billed to you on a separate statement and collected via a separate collection process."
" Will this change how my fees are calculated?
No. GunBroker.com fees will continue to be assessed on the sale price of the item. The collection of state sales tax will not change your GunBroker.com fees. GunBroker.com is not assessing Final Value Fees on sales tax."
Now if they have done thier final valuation on the total amount (Sales pric, Tax and shipping) then they have an issue they need to fix.
WB
" Is Sales Tax on my monthly fee statements?
Sales tax will not appear on your monthly fee statements for items you sell. The sales tax will be billed to you on a separate statement and collected via a separate collection process."
" Will this change how my fees are calculated?
No. GunBroker.com fees will continue to be assessed on the sale price of the item. The collection of state sales tax will not change your GunBroker.com fees. GunBroker.com is not assessing Final Value Fees on sales tax."
Now if they have done thier final valuation on the total amount (Sales pric, Tax and shipping) then they have an issue they need to fix.
WB
buck460XVR
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My guess would be, that a successful business like Gunbroker, would not want to attempt a scam that would include state IRS or even attract their attention.
CapnMac
Member
The primary possibility here is that GB may have indicated a sales tax owed by the buyer. But, that amount might not have been the actual tax rate needed to be collected.
I used to have to fight Quickbooks on this, as QB would assign a tax rate of 5%, and at the time, the Texas rate was 7% (varying by locality). Which was even more frustrating for my tax exempt sales, to justify the invoices to "credit back" the 5% taken out.
If GB "under-billed" the tax in the original transaction, they'd be required to make a second demand to collect the rest (Kay Bailey Hutchinson's minions were always sending me adjustment dunning--and credits, too--it was part of having a Texas Sales Tax Certificate and doing business in Texas). Paying sales taxes in Louisiana was equally complicated.
I used to have to fight Quickbooks on this, as QB would assign a tax rate of 5%, and at the time, the Texas rate was 7% (varying by locality). Which was even more frustrating for my tax exempt sales, to justify the invoices to "credit back" the 5% taken out.
If GB "under-billed" the tax in the original transaction, they'd be required to make a second demand to collect the rest (Kay Bailey Hutchinson's minions were always sending me adjustment dunning--and credits, too--it was part of having a Texas Sales Tax Certificate and doing business in Texas). Paying sales taxes in Louisiana was equally complicated.
OP
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ThomasT
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The link posted by Dale Alan in post #28 has the answer. I think. What it amounts to is that not only does the buyer have to pay a tax on what they bought which I understood but also the seller is being taxed on the amount of money they got for the sale. Once again GB is not billing the buyer taxes twice. They are billing the buyer taxes and the seller taxes.
What is not considered in the seller taxes are that two of the guns I sold I only traded dollars. No profits were made. But the taxes figured for my part are like all the money I got for my sales was straight 100% profit. In the end I am sure I will have to pay the tax on my end. And this will be the end of my relationship with GB.
I did read the link that was posted above when GB sent it out and understood that a buyer would have to pay taxes on the item they bought. What I didn't get from the page was that as a seller I would also be taxed.
This thread was meant to be a two part question and warning. One was did anyone else who is a seller understand that they would also be taxed and if you are planning on selling on GB beware that you will also be taxed for your your sales amount right along with the buyer.
So in the future I guess if you sell some of your personal property no matter what it is you better be ready to pay taxes on any money you get for selling your stuff. Hell in the future there may be a revenuer who sits at your wifes garage sale and keeps a tally on how much she collects so she can pay taxes on getting rid of some of her unwanted items. It reminds of the Beatles song Tax Man.
What is not considered in the seller taxes are that two of the guns I sold I only traded dollars. No profits were made. But the taxes figured for my part are like all the money I got for my sales was straight 100% profit. In the end I am sure I will have to pay the tax on my end. And this will be the end of my relationship with GB.
I did read the link that was posted above when GB sent it out and understood that a buyer would have to pay taxes on the item they bought. What I didn't get from the page was that as a seller I would also be taxed.
This thread was meant to be a two part question and warning. One was did anyone else who is a seller understand that they would also be taxed and if you are planning on selling on GB beware that you will also be taxed for your your sales amount right along with the buyer.
So in the future I guess if you sell some of your personal property no matter what it is you better be ready to pay taxes on any money you get for selling your stuff. Hell in the future there may be a revenuer who sits at your wifes garage sale and keeps a tally on how much she collects so she can pay taxes on getting rid of some of her unwanted items. It reminds of the Beatles song Tax Man.
That is not what the GB link says. It only includes the sales tax for the state being sold into. There is no tax on your “income”. Any income tax would be a result of you reporting income on a tax return.
You said in one of your earlier replies,
What the GB answer says is that the tax is not part of your monthly account bill. (Note that paying the tax is not actually the buyer’s responsibility…it is totally incumbent on the seller to collect and remit to the state the correct sales tax. That’s why the seller has to “pay” the tax.) If you somehow managed to send that tax collected back to GB when settling your monthly account, then you overpaid. If that’s the case, you should have a credit. The bill for the tax (and the cue to send the money in) is separate from your monthly account statement — that’s the new bill for the tax you received.
If you sent the $86 in tax that was collected anywhere prior to receiving this bill from GB, then you did something incorrect.
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