So now it looks like this whole free-ride thing is coming to a close with ebay. I haven't sold a thing on fleabay for over a decade so I have no clue what it's been like. Even when I did sell things, I didn't sell much.
BUYERS TAXES
Ebay adds the local tax to the final sale (sans shipping). My local tax rate sucks, it's 8.75%. It sucks but the assumption is the correct local tax will go to the city I live in (well, at least that's the assumption). If a seller wants to pay the going rate/price for a card, do they include the sales tax in their consideration to buy the card? You know the buyer will always include the tax in the total cost of the card.
SELLER TAXES
Maybe that's why sellers seem to have crazy BIN prices. Perhaps those sellers have been paying their taxes all along and included their taxes as a cost of doing business. Just think, by the time a seller pays the fleabay fees and income taxes, that could account for 25% or more of the sale price.
So, is a seller supposed to absorb the loss and sell the goods for the going rate or does the seller add another 25% to the final sale price to cover all the fees and taxes? I figure if you're a seller you're going to want to collect the going rate for the card (after the fees and taxes have been paid out).
Now - do I give a crap. Not really. I figure I'll pay what I want for a card. Regarding sellers - well, time to belly up to the bar and pay the taxes on the business that allows you to receive income.
Hey Leon, when are does the BST start instituting the sales tax and income tax collections?
03-07-2021, 02:40 PM
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