Taxes - did you know

newname0 · ‎06-20-2015

That you have to pay taxes on products you buy on the internet?

I went crazy last year and bought about 500 on a jewelry site that I now have to pay income tax on to my state?

Holy molely!

CrazyDaisy · ‎03-20-2010

Yes, and it is not Income tax it is typically called sales or use tax.

Someday, when scientists discover the center of the Universe....some people will be disappointed it is not them.

grandma2pkmh · ‎08-04-2013

@newname0 Been doing that for years, state requires it.

happycat · ‎09-18-2010

Well, I thought we paid taxes on the stuff we buy on line when we purchased it? I guess it depends on the site. If I was going to have to pay someone, would I have gotten somethng by now?

deeva · ‎03-09-2010

Yes.

Bri369 · ‎11-03-2018

Yes, you have to pay taxes on internet purchases. When I did my taxes online, there was a line for that.

CrazyDaisy · ‎03-20-2010

@happycat wrote:
Well, I thought we paid taxes on the stuff we buy on line when we purchased it? I guess it depends on the site. If I was going to have to pay someone, would I have gotten somethng by now?

Most States over the years have added this to the State tax returns. They ask you to declare the amount you did not pay sales tax on and the assessment is made at that time.

Someday, when scientists discover the center of the Universe....some people will be disappointed it is not them.

nomless · ‎03-10-2010

@happycat wrote:
Well, I thought we paid taxes on the stuff we buy on line when we purchased it? I guess it depends on the site. If I was going to have to pay someone, would I have gotten somethng by now?

Some internet retailers do not collect state tax. And no, you don't get a statement of whay you owe.

During the year, you need to keep track of your internet purchases for which tax was not collected. At the end of the tear, add it all up, and that's the amount you will pay state income tax on. You declare it and pay the tax on your state income tax form.

pigletsmom · ‎11-21-2011

@newname0 You only do it if you didn't pay sales tax at the time of purchase so you need to make sure you didn't.

millieshops · ‎03-09-2010

Yes, I've known that for years. When I first found these Forums and posters were urging readers to buy elsewhere because there was no tax collected- that wasn't true for me. I'll save my soapbox speech for another site.