Dealing with Taxes, Entrepreneurship, & eBay
Good article that shares information about dealing with taxes as an entrepreneur and selling on eBay.
How to Tax E-Commerce without Killing Entrepreneurship (and eBay)
A new study says that eBay (EBAY) sellers are consistently neglecting to collect sales tax. Seeing potential for billions in tax revenue, highly leveraged states are increasingly interested in a new law that would enforce tax collection for online sales. The idea has reignited a debate over whether e-commerce should be treated the same as brick-and-mortar sales: how do we tax Web business without discouraging online entrepreneurship?
The eBay study, which appears in the National Tax Journal, found that only 18% of eBay sellers got around to charging sales tax, and that even sellers recording tens of thousands of transactions weren’t religious about it. (Professional sellers do not fall under the sales tax caveat that makes exception for yard sales and classifieds.)
