Ebay taxes on circulated type coin collections

[pennypicker]

Beginning October 1st the greedy Democrats in Sacramento decided to charge an 7.75% tax on ALL online purchases that were delivered to California. On September 28 I purchased some sterling silver forks on ebay from a seller I regularly buy from and there was no sales tax as usual; then on October 3rd I won another auction of sterling from the same seller and when I went to pay ebay charged me $26 in sales tax. I was so upset I immediately called ebay to find out what was going on and it was then that they informed me of California's new October 1st "Bend Over" law. Needless to say I no longer buy anything on ebay or any other online seller. The "buy it now" listings here are Realcent now look much more attractive to me

Everyone here needs to STOP using Ebay. Send them a message and vote with your wallet.

Glad I moved out of Commiefornia 10 years ago. I lived there 10 years. The weather was nice, but that's it. They are the most restrictive on my 2 fav things; Guns and now PMs. I don't know how conservatives who live there can tolerate that socialist sheet hole. Things in Cali will get much worse as time passes.

As of December 1st over 190,000 Californians have left the state this year and I'm happy to say that next year I will be one of those counted as having left California in 2020!!!

[natsb88]

Everyone here needs to STOP using Ebay. Send them a message and vote with your wallet.

That frustration would be better directed at the elected state representatives who wrote and voted for these state marketplace facilitator tax laws. And the US congress which has refused to do anything about it. eBay didn't make the rules. eBay actually lobbied against this. It didn't work. So now eBay either complies with all of these individual state laws to assess, collect, and remit state sales taxes on behalf of the states, or eBay gets fined and sued by the states and forced to pay the applicable taxes out of their own pocket, plus penalties and legal costs.

[Cu Penny Hoarder]

As of December 1st over 190,000 Californians have left the state this year and I'm happy to say that next year I will be one of those counted as having left California in 2020!!!

Good for you. Just make it quick before the SHTF. Cali is truly doomed, it's only a matter of time. Their state government keeps doubling down on failed policies. The people in charge are totally insane.

I'm concerned that these CA libtard rejects are relocating to more conservative areas/states and trying to turn them. States like Texas are already starting to turn. I predict Texas will be a blue state less than 10 years from now. The city of Austin has already turned into a libtard haven.

[Cu Penny Hoarder]

Everyone here needs to STOP using Ebay. Send them a message and vote with your wallet.

That frustration would be better directed at the elected state representatives who wrote and voted for these state marketplace facilitator tax laws. And the US congress which has refused to do anything about it. eBay didn't make the rules. eBay actually lobbied against this. It didn't work. So now eBay either complies with all of these individual state laws to assess, collect, and remit state sales taxes on behalf of the states, or eBay gets fined and sued by the states and forced to pay the applicable taxes out of their own pocket, plus penalties and legal costs.

Most in government are incompetent and/or self-serving. They're desperate to keep state pensions from collapsing and that means raising taxes into perpetuity. The system is beyond fixing and they know it... all they can do is kick the can down the road until it all finally collapses.

Ebay is not innocent either. It was great the first 5-7 years or so, but then they bought Pay Pal and got super greedy.

[Thogey]

You cannot sell things and not collect sales tax. It's the way of the world.

If any online retailer wants to do business, they are going to collect sales tax. The supreme court says so. I am just happy e-bay is doing the accounting. It's bad enough just collecting and reporting within your own state.

[coindood]

I'm concerned that these CA libtard rejects are relocating to more conservative areas/states and trying to turn them. States like Texas are already starting to turn. I predict Texas will be a blue state less than 10 years from now. The city of Austin has already turned into a libtard haven.

Happening here in Vegas. Part of my job is collect voter registration info. Every day I talk to decades-long former California residents seeking refuge here after watching their quality way of life slowly erode year after year. Everything they complain about was caused by bad govt. Then...they choose Democrat on the voter reg form, 9 times out of 10. With a population of only 3 million, we could easily turn blue within just a few years.

[Thogey]

Too bad for us. They cannot be contained in CA, it is illegal to do so.
I know Idaho and Montana are fed up with them.
Prescott is in it's final phase of calitardation. It was sooo nice 20 years ago
It will happen to all neighboring states and there is nothing you can do about it.

The californian sells his, hers or it's house for big bucks and takes that money to make california eleswhere.

The only thing that can save us is a housing market price collapse in CA. The last one helped keep Prescott nice for a little bit longer.

Earthquake would suck because the insurance companies will pay them and they will be free to roam.

[Cu Penny Hoarder]

Too bad for us. They cannot be contained in CA, it is illegal to do so.
I know Idaho and Montana are fed up with them.
Prescott is in it's final phase of calitardation. It was sooo nice 20 years ago
It will happen to all neighboring states and there is nothing you can do about it.

The californian sells his, hers or it's house for big bucks and takes that money to make california eleswhere.

The only thing that can save us is a housing market price collapse in CA. The last one helped keep Prescott nice for a little bit longer.

Earthquake would suck because the insurance companies will pay them and they will be free to roam.

You live in Prescott? That was one of my choices to move after my mom dies, but I guess I'll cross that city off the list now. I like AZ, but could never live in the very hot areas like Phoenix or Tucson. Scottsdale is a bit pricey for me.

You're 100% correct about the Cali housing market... it's really due for another crash soon. It's getting to be that only rich folk can afford to live there, the middle class is getting pushed out. Never thought about the earthquake insurance pay outs before... good point.

[Thogey]

Housing and rent are skyrocketing here. Every square kilometer of what was nice is being scraped, mc-mansioned, clothed and rocked. Almost all the pronghorn are gone. Traffic has become dangerous and irritating as California values come to our roads.

The worst, is the m f-ing, loud f-ing retards YAPPING at the top of her lungs, in what used to be a nice quiet forest. All you hear is traffic and narcissists on their phones.

Heartbreaking, but this is progress and it could be worse. So I choose to be thankful for what was, and enjoy what is

[pennypicker]

My neighbor across the street recently retired after 25 years of being a Los Angeles county probation officer. He couldn't wait to get out of California and after months of extensive research he chose to move to a small town isolated high up in the Arizona mountains called Show Low. He moved to an exclusive, self-contained retirement community where people drive golf carts on the private streets and work out in a huge community fitness center with an indoor track and Olympic sized pool. When he returned to pick up his last load of furniture he came to my home to goodbye and said that he would never visit California again!!!

[Thogey]

The fact that such a facility now exists in Show Low is a symptom of the destruction.

It is now longer an isolated town in the mountains.

The lifelong Los Angeles public servant is the type of californian that reeks havoc on what used to be a comfortable life in AZ.

I wish he would have stayed in LA

[Recyclersteve]

Recyclersteve

I do not participate in the stock market but have wondered about how profits generated by a publicly held company are treated.

Every stock holder owns part of the company and receives dividends as distributions of that profit. To my understanding those dividends are taxable.

But more disturbing, isn't the company itself taxed on the profit also? If so, isn't that double taxation on the same money?

Sorry for the late reply- this is a very complicated subject. Disclaimer: I am not an accountant- if you want a definitive answer, go to someone more qualified than I. But, that said, there are multiple types of dividends. There are qualified and non-qualified dividends. I think the non-qualified is taxable. Also, dividends received in a retirement account are typically (almost always, I would dare say) NOT taxable. The money in the retirement account is taxed when it is taken out of the account. So a person in their 30's or 40's wouldn't usually have to worry about taxation for decades.

If you are hinting at the subject of double taxation, there are many examples of it. Just Google something like "double taxation examples" and you will find more than you can read.

Another complicating factor is that a company could lose money yet still pay a dividend. The loss in and of itself would generally not be taxable. My understanding is that this would be a non-qualified dividend as the company didn't pay it out of earnings.

Years ago my dad and I owned a small family business. Our accountant was a pretty sharp guy, a former IRS employee in fact. He met with us when there was only a few weeks left in our fiscal year and had us write bonus checks to ourselves to get our corporate profit down to a very small amount. We always wanted to have a profit, but didn't want the company profit to be taxed and then for us to also be taxed on our bonus checks. So getting bigger bonus checks resulted in us actually being better off (by avoiding a bunch of double taxation).

[JerrySpringer]

Bumping this thread.

Sold some boots on Ebay last month.

Ebay does the billing and payments in house 100% now. Cut PayPal out.

Here is the thing that really grinds my gears. Ebay passes on a state sales tax to the buyer, so not my problem. I sold the boots for $XX and the buyer paid that plus a sales tax. But, Ebay charges a handling fee on ALL money transacted. I was not only charged a fee on the price I sold the boots at. I was also charged a fee for the sales tax amount that was collected and not something I charged. The sales tax service fee was not a lot in scheme of things, but Ebay should not do that. Oh, and yeah, Ebay raised their fee rates this past quarter too. I told my brother the other day, if you sell a common item on Ebay, factor in with shipping charges and fees that you will get to keep about 2/3 of what the item was sold for. So, sell an item for $150, you will finally net $100 after mailing the item and Ebay getting their cut. I can't see anybody flipping things on Ebay unless they can mark them up to cover fees,etc. Not sure why people keep selling precious metals on Ebay.

[NDFarmer]

North Dakota does NOT charge sales tax on coins. But most of my sales were taxed. Where does that money go? Another 8% for FeeBay?

I'm done selling on there and I sold a lot of items on there over the last 5 years. They finally drove me away.

[Verbane]

North Dakota does NOT charge sales tax on coins. But most of my sales were taxed. Where does that money go? Another 8% for FeeBay?

I'm done selling on there and I sold a lot of items on there over the last 5 years. They finally drove me away.

eBay is collecting local sales taxes due to court rulings relating to the Wayfair case and others. Any taxes collected by eBay are paid to the municipality where the buyer resides.

I won't comment on the gov't involvement in online intrastate transactions, but this is definitely affecting prices for online platform sales.

[NDFarmer]

eBay is collecting local sales taxes due to court rulings relating to the Wayfair case and others. Any taxes collected by eBay are paid to the municipality where the buyer resides.

I understand if it is state law that coins are taxed when sold then yes FeeBay can and probably should collect the tax. But why would they collect tax in states that do NOT tax coins. When I buy coins at my local coin shop there are no state or city sales taxes charged.

[smackvay]

I removed all listings from both ebay accounts awhile back, im done until something changes