Accountant Explains: Online Sales Tax In The U.S. - Complete Guide
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- Опубликовано: 5 окт 2024
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Looking for help with your SALES TAXES? Check out a couple of our videos on the topic -
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I get asked what company I recommend to help with sales taxes and every time I mention Tax Jar. Once set up, tax jar can complete all of your monthly sales tax filings automatically. If you are looking to solve this problem forever, click this link to find out more about what they can do for you. taxjar.grsm.io...
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Lawyer Disclaimer (Occupational Hazard): This is not legal advice. Everything here is for informational purposes only and not for the purpose of providing legal advice. You should contact your attorney for advice regarding any particular issue or problem.
Thanks again, James, for having me as a guest. Sales tax is a complex subject and a moving target as states come to make changes.
Well done. Can you talk more about how this applies to Software and Digital Services?
We did briefly, but the short answer was once your sales are over 1,000,000 then you should just pay Scott for a Nexus study. Then you will know. Before that, don't really worry about it
No sales tax on online services
Hello James,
Thank you for your excellent contents.
I'm a non-US resident who owns a disregarded entity LLC in the US. I've started a dropshipping business where I partner with US brands to sell their products directly to US customers through my e-commerce website. The products are shipped directly from the brands to the customers.
I have a few questions:
Should I charge sales tax to my US customers?
Do I need to pay sales tax to the US government?
Do I need to pay federal income tax to the US government?
Thank you for your time and expertise.
I have a question about getting an EIN faster
Can I call them right away and get an EIN right away instead of filling out Form SS-4?
Need to file the ss4 first
Only foreign entities can get EINs over the phone
@@JamesBakerCPA Yes, I am a foreigner, so based on your answer, I can contact them instead of filling out Form SS-4
This is correct??
@@kirohisham6003 You need to fax them the SS-4 and then call them a few days later.
Or wait until they mail it to you.
@@kirohisham6003form SS4 is mandatory to be filed
Please reply, James
Well, when I signed up, I found the LLC Operating Agreement: Definition, Purpose, Format, and Importance
Do I need to file a Wyoming operating agreement or what?? Why do I need it??
Do we have to pay sales taxes only for the difference between the economic nexus threshold and our sales, or for 100% of our sales in that state once we reach the the economic nexus?
And if it is 100% of our sales, let's assume a fictional state with a threshold of $100k. In that state once we reach nexus, does that mean we've to pay sales taxes for our very first $100k or only onwards?
And if we keep our sales below $100K in that fictional state, do we just never pay sales taxes?
Is it considered illegal refusing to sell anymore to customers in certain states based on how far away our sales from that threshold? Not that I'm considering it (it's bad for business scaling), this is just a thought experiment.
Once you reach Nexus you register and start collecting and paying sales taxes. The prior sales aren't subject to it