If internet sales are taxed

[ILUVRP]

ideas , if i buy silver/gold coins on the internet will the sale be taxed , ebay has changed their commission on sales to 10% with a $250 max , so on a $2000 sale they rake $200 , on a $5000 sale they get $250 , plus the 2.9% paypal on the total .

i sold for a friend of mine a gold coin $4100 , ebay took $250 , pp took about $120 , he has more to sell , the next time we will put 4 coins on together , should go for arount 10k , ebay will still only get $250 , if singles ebay would get $1000 .

so the question remains , will coin sales be taxed by these ah's .

we all know gold/silver is money , can currency be taxed , like if i buy japanese yen on ebay will the sale be taxed .

[Todd]

Virginia senate already passed this crap. Now it's up to the House to get it stopped. It's not looking good in my state.

[ninepointfive]

Use bitcoin


anyone who wants to start planning now will reap the rewards of an amazon like bitcoin market for goods to be sold anonymously

[Keith and stuff]

There is a reason ebay is working to stop this bill. Don't forget that in most states, you have to pay capita gains or income tax on gold when you sell it. Then you are supposed to do the same for the federal government.

Look on the bright side, this is another reason for people to join the Free State Project and move to New Hampshire People will no longer have the excuse that they can just become an Amazon Prime user and buy all of their stuff on Amazon, tax free.

[LibertyEagle]

I guess to me it never seemed really smart to clump all together in a small location so that the government can just pick a bunch of dissenters up in one swell swoop.

[ninepointfive]

I guess to me it never seemed really smart to clump all together in a small location so that the government can just pick a bunch of dissenters up in one swell swoop.

decentralization just seems to work

[oyarde]

I will no longer buy anything on the net if I have to pay tax.

[Keith and stuff]

I guess to me it never seemed really smart to clump all together in a small location so that the government can just pick a bunch of dissenters up in one swell swoop.

I agree. But Ron Paul has like a million voters. The FSP is just asking for 20,000 of them to move to NH. Well, it wants folks that are willing to do more than vote 1 Ron Paul wants, but I think you get what I mean.

[jbauer]

Use bitcoin


anyone who wants to start planning now will reap the rewards of an amazon like bitcoin market for goods to be sold anonymously

Most people don't trust bitcoin as of right now its just a novelty. I see bitcoin similar to myspace prior to facebook. Something will have to cause a tectonic shift in my opinion to go to a computer based currency.

[angelatc]

I will no longer buy anything on the net if I have to pay tax.

Technically, I suspect you're probably already required to pay the tax. I think that if you look, your state likely already has a law saying that the residents owe taxes on things they buy from out of state.

These taxes already exist - it is just that the states are powerless to collect it. This makes it the responsibility of out of state retailers to collect taxes from you on behalf of your state.

[angelatc]

Use bitcoin


anyone who wants to start planning now will reap the rewards of an amazon like bitcoin market for goods to be sold anonymously

Not sure how it can stay anonymous when the seller has to obtain a shipping address.

[ninepointfive]

Most people don't trust bitcoin as of right now its just a novelty. I see bitcoin similar to myspace prior to facebook. Something will have to cause a tectonic shift in my opinion to go to a computer based currency.

yeah, and that's okay. also, if you don't want to leave deposits in your bitcoin wallet , convert some fed notes for bitcoin and purchase immediately

Not sure how it can stay anonymous when the seller has to obtain a shipping address.

Sellers have ratings, and it currently works for illicit drugs. That's not to say a honeypot couldn't be developed - but it seems to be working fine at the moment.

[ninepointfive]

//

[The Free Hornet]

I guess to me it never seemed really smart to clump all together in a small location so that the government can just pick a bunch of dissenters up in one swell swoop.

Historical perspective:

According to family history, when his revolutionary colleagues told him “we must all hang together,” Penn responded, “If you do not, gentlemen, I can tell you that you will be very apt to hang separately.”

- "lieutenant governor of Pennsylvania, Richard Penn, grandson of William Penn"
(often attributed to Ben Franklin - that's how good it is)

[oyarde]

Technically, I suspect you're probably already required to pay the tax. I think that if you look, your state likely already has a law saying that the residents owe taxes on things they buy from out of state.

These taxes already exist - it is just that the states are powerless to collect it. This makes it the responsibility of out of state retailers to collect taxes from you on behalf of your state.

That is likely true, but it only shows up if I buy something from someone in my state , net , catalog etc.Mostly , everything I buy is from the Hardware Store, Farm Store , the Mrs has a ( business )tax ID # and I am tax exempt , then there are auctions , yard sales , garage sales , the grocer and I pay no tax there, I pay no tax @ the local coin shop ( he does pay it though).I buy things from other local Farmers , cash , no tax there . My tax , other than payroll , property , license / plating, phone, , electric , gas , natural gas , I imagine ,would just be my purchases @ the Dollar Store. I wish to "donate" as little as possible over the 13K or so and the others that they already screw me for .

[oyarde]

I sell a complete, (practically )line of food , I charge no tax ......

[P3ter_Griffin]

Are used good transactions between two non-business parties supposed to be taxed? i.e. if you buy a used lawn mower (or gold coin) from your neighbor-- or off of craigslist--, are you supposed to pay sales tax? If not, I would think Ebay would have the means to prevent the implementation of sales tax on like-transactions, as long as one of the parties isn't a business.

If you go to a coin shop and buy collector coins or bills, which are currency, you do pay a sales tax. So I would expect the states to tax online currency sales the same when this is implemented.

[Keith and stuff]

Are used good transactions between two non-business parties supposed to be taxed? i.e. if you buy a used lawn mower (or gold coin) from your neighbor-- or off of craigslist--, are you supposed to pay sales tax? If not, I would think Ebay would have the means to prevent the implementation of sales tax on like-transactions, as long as one of the parties isn't a business.

It depends. You would have to pay state and federal capital gains or income taxes if you sold the coin for more than you paid for it, though. Well, some states don't tax it but most do.

[kpitcher]

Are used good transactions between two non-business parties supposed to be taxed? i.e. if you buy a used lawn mower (or gold coin) from your neighbor-- or off of craigslist--, are you supposed to pay sales tax? If not, I would think Ebay would have the means to prevent the implementation of sales tax on like-transactions, as long as one of the parties isn't a business.

If you go to a coin shop and buy collector coins or bills, which are currency, you do pay a sales tax. So I would expect the states to tax online currency sales the same when this is implemented.

The IRS views barter as something to be taxed.
http://www.irs.gov/taxtopics/tc420.html

States view garage sales and casual sales as taxable depending on the state.

[presence]

Lets see... 10% to ebay 2% to paypal and another 8% to the government... 20% fee to buy gold bars through ebay.

or 5% to bitinstant.com and bitcoins to coinabul.com; gold in the mail box.

Seems like a no brainer.