Turning the hobby into a part time job.

[savedfrommyspokes]

Originally Posted by buymycards

If you purchase items from out of state you will need to pay a "use" tax.

With my buying of inventory, my accountant indicated that based on my state's tax laws that I would not be required to pay a use tax on items purchased from out of state with the intent of reselling. This would be the same as me buying product with the intent of reselling within my state and providing my tax exempt ID # to the seller so that the transaction will be exempt of any state sales tax.

Is it possible that different states have different laws regarding their use taxes for out of state purchases intended for resale?

[buymycards]

Originally Posted by savedfrommyspokes

With my buying of inventory, my accountant indicated that based on my state's tax laws that I would not be required to pay a use tax on items purchased from out of state with the intent of reselling. This would be the same as me buying product with the intent of reselling within my state and providing my tax exempt ID # to the seller so that the transaction will be exempt of any state sales tax.

Is it possible that different states have different laws regarding their use taxes for out of state purchases intended for resale?

You are correct. The use tax isn't for resale items. Thanks for catching that.