I'm not taking a position here, but sales taxes are generally a tax on a financial transaction, not on an individual item. So it doesn't matter how many times a particular item has been bought or sold, it's the act of the sale that triggers the sales tax.
Quote:
Originally Posted by OldSchoolBaseball
Yes, I agree pay your taxes on your net earnings.
What I have never understood is why something needs to be taxed more than once (sales tax). If its new, yes, tax it initially. But when its resold and resold and resold again (like cards on ebay), sales tax should be excluded because that item was already taxed. This is always a complaint of antique store owners.
sales tax rant....sorry
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