Quote:
Originally Posted by Kidnapped18
You guys are making this tax thing way too complicated. The PWCC vault is in Oregon which has 0% sales tax and that is why PWCC is promoting the vault as a way not to pay sales tax. If you elect to to have your cards shipped to your home state and your state does have sales/use tax then PWCC (seller) is obligated to collect the sales tax for your state and remit it to that state's Department of Revenue. If for whatever reason PWCC does not collect the sales tax (which I highly doubt they would) then you (buyer) are obligated to self report any tax owed on either monthly or quarterly basis.
This is not complicated folks.
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Really?!?!?
So it makes no difference if you leave something in their vault for several years before then asking them to return the item to you? What if you left it there in their vault for over ten years before asking that it be returned? Or what if the item is in their vault for several years and instead of you asking them to return it to you, they go out of business and just ship everything back to you at your home address?
Or how about this, you have an item in their vault and go to sell it, but decide to use a different seller/AH to list and sell it for you. So you have PWCC ship the item directly to your AH of choice, that just so happens to be in a different state than the one you live in. Do you now owe a use tax in the state you live in, even though the item is never shipped to and physically in your state of residence? Or do you possibly now owe a use tax to the state where the AH that is selling it for you is located, even though it will only be there for a short period of time while the AH completes the sale for you?
And for another possible twist, what if you lived in one state when you originally purchased an item that went right into their vault, and a year or two later asked them to now return the item to you. But during the time the item was in their vault you moved to a different state that also had sales and use taxes? Do you have to report and pay the use tax to the state you no longer live in since that was where you were living at the time you originally bought the item and put it into the vault, or do you now owe use tax to the state you had moved to, even though you didn't live in that state when the item was originally purchased?
And now here is the real ass-kicker question. Is the answer to each of these questions I just posed above going to be EXACTLY THE SAME in all 45 U.S. states that impose sales and use taxes on items being purchased?
And for the record, use taxes are not necessarily always reported and paid on a monthly or quarterly filing basis. For example, in Ohio there is a line item on the state's annual individual income tax return where an individual taxpayer (or jointly filing couple) can report any use tax owed on purchases from the prior calendar year. Any such use tax due and reported will then either increase the amount of Ohio income taxes owed, or decrease the state income tax refund that would otherwise be received.
PLEASE, PLEASE, PLEASE, think twice, even three times, and then still don't make simplified posts with generalized statements in regards to taxes, especially concerning state taxes where the laws and rules can vary in every single state, unless you truly know what you're talking about. Otherwise, all you're doing is putting conflicting information out there that someone else on this forum that doesn't know any better may read and erroneously follow. I thought one of the basic tenets of this forum was to try and help and educate each other. That is simply what I was trying to do for anyone on here who already had items in either PWCC's or Goldin's vault, or was thinking about putting things in their vaults sometime in the future.