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Post by indiehouse on Sept 18, 2019 19:35:05 GMT -6
Been getting a lot of emails from these guys that will make buying/selling gear more expensive. eBay and Reverb will now collect sales tax in my state, which is an extra 7%. This will make good deals harder to find and everything generally more expensive then they used to be, especially when you deal in already expensive audio gear.
Also, PayPay changed their refund policy. Now when you refund someone, PayPal will keep the fees instead of reversing them. Not a big deal if it’s a couple bucks, but generally when buying audio/music gear, these fees can get up there. Sheisty.
Mostly, I’m done with the gear flipping. I’ve got what I’ve got. There are some things I will sell, but I’m not looking forward to it. I realize the sales tax thing was inevitable. We had a good thing there.
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Post by indiehouse on Sept 18, 2019 19:36:16 GMT -6
But that PayPal thing could really bite some people in the ass. How are the smaller boutiques going to deal with returns? Are they going to eat it? Will the customer eat it?
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Post by EmRR on Sept 18, 2019 20:25:27 GMT -6
nothin' like a monopoly!
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Post by Tbone81 on Sept 18, 2019 21:29:06 GMT -6
That sucks...I wonder how it’s going to work in state like mine (Oregon), where theres no sales tax. If I buy/sell something out of state will that transaction be subject to the other states sales tax? Usually states have tax treaties that regulate this stuff but it’s kind of uncharted territory as they fight to get a piece of the internet sale pie.
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Post by ragan on Sept 18, 2019 22:15:28 GMT -6
That sucks...I wonder how it’s going to work in state like mine (Oregon), where theres no sales tax. If I buy/sell something out of state will that transaction be subject to the other states sales tax? Usually states have tax treaties that regulate this stuff but it’s kind of uncharted territory as they fight to get a piece of the internet sale pie. My (admittedly cursory) understanding is that charging sales tax on internet purchases is meant to keep your local businesses on more even footing, i.e. you can't simply buy online from someone out of state to avoid the sales tax that your local businesses can't avoid charging. It actually works on me. As soon as my local sales tax applied to online purchases I actually found myself going "Well hell, I'd rather just go to _______ shop and have it today then." |
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Post by indiehouse on Sept 19, 2019 4:07:32 GMT -6
That sucks...I wonder how it’s going to work in state like mine (Oregon), where theres no sales tax. If I buy/sell something out of state will that transaction be subject to the other states sales tax? Usually states have tax treaties that regulate this stuff but it’s kind of uncharted territory as they fight to get a piece of the internet sale pie. My (admittedly cursory) understanding is that charging sales tax on internet purchases is meant to keep your local businesses on more even footing, i.e. you can't simply buy online from someone out of state to avoid the sales tax that your local businesses can't avoid charging. It actually works on me. As soon as my local sales tax applied to online purchases I actually found myself going "Well hell, I'd rather just go to _______ shop and have it today then." Totally. Though I despise going into Guitar Center and Sam Ash, and they don’t carry the things that interest me. What this does is make the second hand market a tougher sale. The margins just shrunk and I’m way less likely now to buy. I can’t be alone in that thinking, which means it’s going to be tougher as a seller. It will probably force people to price a little lower in order to move gear. |
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Post by indiehouse on Sept 20, 2019 7:52:07 GMT -6
Perfect example: There is an Unfairchild on Reverb right now for $9100 shipped. Add on on additional $637 for taxes! Oh, and the seller accepts returns, so if you decide to return, someone will be out $267.
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Post by swurveman on Sept 21, 2019 9:43:59 GMT -6
I'll be very surprised if state taxes don't go up, along with special gas taxes and other types of taxes. I file taxes in 17 states based on my ownership in our S Corp. family shower door company. All my state taxes are based on my federal taxable income, which dropped dramatically due to the S Corp federal tax cut and the accelerated depreciation that was part of the cut. So, states are getting a lot less revenue from me and every shareholder of every S Coop in the country.
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