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05-09-2008, 01:16 PM | #51 |
Crimson Guard
Join Date: Sep 2007
Location: New Castle, Delaware
Posts: 4,498
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Quote:
The point is you yourself do not get to decide if you are a business or not. If you read further down the article, the IRS has their own definition of a business. Each state as their own version. If you meet the criteria, then you are a business, whether you like it or not, and therefore subject to the regulations placed on business in your state. In North Carolina you need a merchant's certificate. CompulsiveCollector doesn't have one, and therefore is breaking North Carolina law. The only assumption I'm making is that North Carolina considers you a business, which I'm sure they do.
You're making assumptions...and now essentially accusing another board member of breaking state law....that are completely wrong. That article says you need to pay taxes on the income you earn from a "hobby." Of course you do; no one would debate that. Nowhere does that article say anything about obtaining a state business license or getting a taxpayer ID, which you need in order to buy goods wholesale without paying sales tax. Why is that so hard to understand? If you've bought the stuff at retail you've paid the sales tax. Anyway, I'm done trying to explain or discuss this. You're determined to go on being wrong, fine. No skin off my lip.
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05-09-2008, 01:19 PM | #52 |
Crimson Guard
Join Date: Aug 2007
Location: Charlotte, NC
Posts: 1,224
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If this assertion was based on anything more than your inaccurate assumptions and lack of understanding, you'd have cited the law already.
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I applaud your ability to use a search engine, but the fact is that the Treasury Department has requested an expansion of the tax code that would require the reporting of such income, but no legislation has even been introduced in Congress, let alone signed into law. Sure, the IRS wants it, but Congress has to give them the ability to go after it before they can. And if that ever becomes the case, then every "scalper" who buys something and can't sell it for a profit will be able to claim it as a loss come tax time. Is that really what you would want? No, they don't. Again, no matter how many times you repeat an inaccuracy, it will never be anything more than that. That's a pretty serious accusation, buddy. Exactly how am I breaking the law? You want to levy charges, then be specific, and make a convincing case that that was the "only assumption" you're making. That will be entertaining. |
05-09-2008, 01:33 PM | #53 |
Banned
Join Date: Jul 2007
Location: AT HOME
Posts: 509
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wave 7 has hit all over the United States. A friend of mine found them just south of Boston 2 weeks ago.
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STORM SHADOW |
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05-09-2008, 01:37 PM | #54 |
Crew Chief
Join Date: Aug 2007
Location: Tennessee
Posts: 31
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Just to add another question to this discussion.... When someone scalps product (ie makes a profit on something already purchased), is the state entitled more tax from this sale since more profit was made?
Example: Toy is bought at $7 and the state makes it's sales tax. Someone resells it at $15, should the state be able to collect tax from the difference ($8)? For an individual, this could be covered under the income reported (again, it depends on the definition of "business"), but what happens with a company like BBTS that sells store exclusives at an increased price? |
05-09-2008, 01:38 PM | #55 |
Joe Grapping Specalist
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Location: Louisville, KY
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05-09-2008, 03:11 PM | #56 |
Banned
Join Date: May 2008
Location: Minnesota
Posts: 35
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Fine, here is the North Carolina statute that defines you as a retailer...
http://www.ncga.state.nc.us/enactedl...1987-1096.html And here is the document stating that you must have a certificate... http://contracts.chooselaw.com/state.../form24794.pdf Quote... 'Every person, whether within or without the State, engaged in business in this State who makes retail or wholesale sales of tangible personal property must apply for and obtain from the Department a Merchant's Certificate of Registration to engage in and conduct such business.' |
05-09-2008, 03:15 PM | #57 |
endlesssummerofthedamned
Join Date: Jan 2008
Location: Midway, PA
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Scum.
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05-09-2008, 03:30 PM | #58 |
Banned
Join Date: Dec 2007
Location: Knox TN
Posts: 7,156
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Quote:
Fine, here is the North Carolina statute that defines you as a retailer...
http://www.ncga.state.nc.us/enactedl...1987-1096.html And here is the document stating that you must have a certificate... http://contracts.chooselaw.com/state.../form24794.pdf Quote... 'Every person, whether within or without the State, engaged in business in this State who makes retail or wholesale sales of tangible personal property must apply for and obtain from the Department a Merchant's Certificate of Registration to engage in and conduct such business.' DAAAAAAAAAAAAAAAAAAAMN!!! |
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05-09-2008, 03:33 PM | #59 |
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Join Date: May 2008
Location: Minnesota
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Not only that but you also need to have an auctioneer's license if, and I'm quoting here...
'the owner's regular course of business includes engaging in the sale of goods or real estate by means of auction or unless the owner originally acquired the goods for the purposes of resale at auction' statute here... http://www.ncga.state.nc.us/enactedl...l1991-819.html So your actually in violation of a couple laws, at least. |
05-09-2008, 03:41 PM | #60 |
Crimson Guard
Join Date: Sep 2007
Location: New Castle, Delaware
Posts: 4,498
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Quote:
Fine, here is the North Carolina statute that defines you as a retailer...
http://www.ncga.state.nc.us/enactedl...1987-1096.html And here is the document stating that you must have a certificate... http://contracts.chooselaw.com/state.../form24794.pdf Quote... 'Every person, whether within or without the State, engaged in business in this State who makes retail or wholesale sales of tangible personal property must apply for and obtain from the Department a Merchant's Certificate of Registration to engage in and conduct such business.' He's not engaging in retail or wholesale sales.
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